If a skateboard deck is turned over to its design side, there are two complete T-shaped pieces of metal. This piece is attached to the skateboard deck with screws. The pin is a long piece of metal that is designed to turn the skateboard deck. Adjusting its tension affects the skateboard deck's turning sensitivity. Typically, longboards have looser tension than other skateboards to allow deeper turns.
To get higher ollies, I would suggesting resting your back foot on the very end of the tail and the front foot in the middle of the deck to allow for more slide. Popping as hard as you can and catching your board in the groove of the nose with you ankle practically resting in the groove will level the board out in the air. after this initial movement slide you feet back to the bolts on the tail and nose to ensure a clean landing.
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