You're looking at a fixture I made for my metalworking lathe. However, if you don't know much about lathes, it's hard to tell where the lathe ends and the new part begins! It's a removable, adjustable fixture (1 in the photo is the body and clamp knob) with a carriage stop (2) and a dial indicator (3), which measures the movement of the carriage at (4), and the indicator is removable using the thumbscrew at (5). That nice Ames dial indicator was a gift from Kelly Williams. (Thanks, Kelly!)