A system for use with an implantable flow control device having an adjustable valve and a magnetic device coupled to the valve, the system including a locator tool and an electronic magnetic-based indicator tool. The locator tool includes a processing system and an electronic display. The indicator tool is configured to couple with the locator tool. The indicator tool includes an electronic compass module configured to detect and generate a first set of data based on an orientation of magnetic fields associated with the magnetic device as an indication of the setting of the valve and measure and generate a second set of data based on ambient background magnetic fields. The indicator tool electrically communicates the data to the locator tool. The processing system receives and uses the first and second sets of data generated from the electronic compass module to determine orientation of the magnetic device.
