New angle finder, I think?

Angle Cosine Indicator. It is used to ensure that your cant angle is 0 (right/left lean from verticle) and to tell you the cosine (or in this case it seems) the actual angle of tilt (up/down of the muzzle) relative to parallel to the surface of the earth. The cosine of that angle is used to calculate the horizontal range to the target. The horizontal range to the target is the range used to calculate drop due to gravity. When shooting uphill or downhill the drop of the projectile is always less than when shooting on level ground. That device helps you calculate how much less.