As far as I know you have to figure it using basic trig.
Uphill or downhill the holdunder is exactly the same, you hold for the horizontal distance.
The easiest way to illustrate it is to use "Ye Olde Bowhunters Trick"....... when shooting downhill in trees, like on a hillside or more usefully p'raps when shooting from a treestand, you pick the tall tree closest to your quarry and estimate or laser the LEVEL distance to the tree trunk. Shoot for the level distance.
This is not an approximation, actual mathematical hold is the LEVEL distance above or below your target.
Sniper Tools is the one I've been mounting. It's light and fairly stout. Buy the milspec version.
(
http://www.snipertools.com/article.htm )
Some long range shooters like Darrell Holland still hold that the BEST way is to carry a Suunto clinometer around your neck.
(
http://www.suunto.com/en/Products/Precision_instruments/Suunto--PM-5/ )
Leupold sells a ranging clinometer/binocular that from all reports works as advertised.
When using a scope mounted Sniper Tools unit note that the ACI version (Angle Cosine Indicator) and the ADI version (Angle Degree Indicator) are identical except for lettering. You use the one you're most comfortable figgering, one is the 'reverse' of the other.
For the math-challenged like I'm (spell that L.A.Z.Y.) I just pick a number in the middle and Kaintucky it from there......
You do NOT have to figure for trajectory, figure for poi and let 'er fly.... it don't matter if it's a 50cal flintlock nor a 50BMG.
hth
al