Since I saw it asked (or questioned really), I figured I would take some pictures of what a Merkur Progress looks like up close in it's adjusted range.
note: The theory is exactly the same for ANY adjustable razor, the method of adjusting might be a little different but the results are exactly the same.
You are moving the blade AWAY from the guard. Not exactly changing the angle of the blade as much as changing the angle between the blade and the safety guard. I hope this makes it easier for those of you without an adjustable razor to visualize.
This is with the razor fully closed at 1
This is with the knob turned up to 5+