Depends on how accurate you want/need to be. There are all sorts of methods for determining TDC but the most accurate method involves using a degree wheel and piston stop. If you just need an approximate TDC - the eyeball method with a pencil (or whatever) in the spark plug hole with the eraser end sitting on the top of the piston will do just fine. Just watch the pencil move upward until it quits moving upward!
Heck, for a very rough TDC you can put your thumb on the spark plug hole, turn the engine over manually and feel when the compression stops! I have used that many times to install a new ignition when you just need the timing to be "right enough" to start!
SO...it really depends on what you are working on as far as the necessary accuracy!