Now for a somewhat different opinion. The horizontal tracking angle (HTA) that you are setting with a protractor is the least important setting of all to get with absolute precision. It is incorrect most of the time as there can be at most two places where it is correct, that is, stylus tangent to the groove. Moreover there are several solutions about how to set HTA, each of which has its partisans. So this is not a setting to obsess over. More important is SRA and especially azimuth.
That being said, the $20 protractor sold by turntablebasics.com, used with care, will set HTA to the most popular setting as accurately as anything out there. Moreover it can be use with an arm of any length. The idea of spending big bucks for an HTA adjustment protractor seems unwise IMO.