chain slack

[Cormanus]

I have always gone to the middle of the bottom of the chain.

Put a ruler or tape measure behind it. And give it a gentle wiggle both Up & Down and make sure it falls within the margin.

If it would move 1 inch upwards from baseline, then it would also move 1 inch below baseline (downwards). And that would give you a total slack of 2 inches instead of 1 inch in 1 direction.

This is the way I learned (but it can be wrong and im open to hearing otherwise)

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Ive no argument with your technique, mvk, but surely the sheer weight of the chain will mean it will move further up than down? In other words, the lower run will be bow shaped at rest.