Set Previous Slope: The previous alignment to the vertex edited is set using this option. Hence, it will only be possible to move the vertex in the direction marked by the next alignment to the vertex.
Set Next Slope: This is a similar case, except that the alignment set is the one following the vertex, which can only be moved in the direction marked by the following alignment.
Set No Slope: This option allows one to arbitrarily move the vertex with no restrictions of any kind.