You have slackened the nut on the stud through the adjuster's toothed wheel, I hope? If it's tight the adjustment is locked.
I recently fitted one and found it best to nip up that nut so the adjuster can move under a bit of leverage. It was then really rather easy to set the correct tension using a screwdriver against a bolt inserted into the handy empty hole in the block. Then tighten the nut, remove the timing tools, rotate the engine 2x, put the timing tools back on and check timing.
[EDIT: from memory the hole is M10 or so, and at about 8 o'clock from the adjuster. If you're trying to lever freehand, without using a bolt as a fulcrum, that will be very hard or impossible. Even so you need a large screwdriver or pry bar to get the leverage.]