Motocaddy adjustment thing

Does it adjust the direction of the front wheel? I've got an old motocaddy push trolley and that has a roller dial on the side to do that. Is this a different way of doing it?
 
Does it adjust the direction of the front wheel? I've got an old motocaddy push trolley and that has a roller dial on the side to do that. Is this a different way of doing it?
Trolleys also got the two wheels either side of the front wheel,.so this is something different.
 
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