With a 1 MT Headstock, you can't really make your own Alignment bar, since anything slim enough to pass through will be too slender to be rigid, even if you do have a 4 jaw independent chuck.
So it looks like buying an alignment bar, even if it won't see much use. The cost will be offset by the savings on scrap that you don't make once everything is lined up.
When clocking along the bar, make sure that the Saddle gibs are sensibly, but not over, tight.
If the Saddle is flopping about the readings will be useless.
Hopefully, aligning the headstock in the horizontal m,plane will only entail slackening the fastenings and a little tapping.
But you may as well go the whole hog and remove to ensure that all the mating faces are clean and free of burrs.
If you have any doubts about the fixings, check them.
A friend had a ML4 that produced tapers. Someone had removed the Headstock and cross threaded one of the studs. As soon as that nut was tightened it went out of line. We made up an alignment fixture, clamped in the opposite stud, to drill out the hole gradually from 1/4 BSF until it could be tapped square as 3/8 BSF. We had already made up a 3/8 BSF / 1/4 BSF bush, and Loctited into p[lace. the Headstock could then be aligned and tightened, and stay in alignment.
You may need to go down the same road.
Once the Headstock alignment is certain, the Tailstockm is next on the list, firstly horizontally, again with no slop in the gobs, then, hopefully the Tailstock and Headstock centres will be on the same level
You just keeping eliminating errors, one at a time, until the machine is as good as you can get it
Hopefully; you will get there!
Howard