I use it all the time when I go to a dark site.
It only applies when in "equatorial" mode, i.e. with the wedge in your case.
It doesn't matter which one you start with, either meridian or horizon, just do one and then the other. Then go back and forth until it's tracking back over itself in both locations.
It doesn't matter which way the DSLR is oriented...what you're interested in is the result you see on-screen. A V-shape means you are not polar aligned with respect to that axis, so what you are aiming for is just a line where the scope has tracked back over itself precisely.
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