I agree with lunatic, it should never knock. At idle a loose chain will slap around a bit, chatter not knock.
When I checked the tension in the past I would put a tape measure on the inspection port and use as much force in both directions as I could with a finger. I can remember freaking out thinking it was to tight because of the whirring noise. Not to much but a little.
Readjust it. If it keeps knocking you've got bigger issues.