Abstract: A projectile launcher sight incorporates the combination of a pendulum sight subassembly together with a mechanism for adjusting the position of the pendulum sight subassembly relative to the projectile launcher. The pendulum sight subassembly provides for automatic range compensation, and the position adjusting mechanism provides a means for compensating for the elevation of the shooter relative to the target. This enables the pendulum sight assembly to be calibrated under relatively level shooting conditions, and then used with accuracy under conditions where the elevation of the shooter differs from that of the target. The position adjusting mechanism is provided with an indexing mechanism for setting the position to one of a plurality of precalibrated positions so that the elevation adjustment can be readily made under low light conditions or while wearing gloves. The projectile launcher sight is particularly suited for application as an archery bow sight.