Waypoint Compass

A compass that allows you to change the position it points to.

The compass position can then be set by shift-right-clicking the compass. The coordinates and dimension can be seen in the tooltip: Waypoint Compass Tooltip

While the compass is in your hand, a beacon beam will render at the waypoint: Waypoint Compass Beam

The compass position can be duplicated by crafting another Waypoint Compass and placing an existing Waypoint Compass in the center slot: