From what I've peeped you can do the attacking in two different controlling schemes.
One which let you select specific targets and the other which chooses random or everyone (when you attacking folk that attacking you)
There are four attacks and their names are pretty self explanatory. Down is for attackers, the folks that attacking you. You can see their arrows pointing at you. If your shyt is set to the default which selects everyone, you'll attack all the attackers attacking you. If you select the other control scheme, you can select which attacker out of the bunch you want to focus on.
Left I think is random. Which is again, self explanatory.
Up however selects people that are near death and let's you go in for the kill. Once again, you can select who you want with the other control scheme or just get a random near death person and finish 'em.
Now Badges is the right selection and I finally found out how this shyt works. People that kill get badges, which in turn makes them a target same as the folk about to die, so if you aggressively bumping off folk on the earlies, you get a solid amount of badges and get put on this list.
Now if you go against a player with alot of badges and kill him, you get double the amount of badges you normally get, making you a target as well.
Alot of this shyt I said above could be a bit wrong since I don't own this as yet seeing as to how I don't have the online service, but it should help you a bit I'd like to hope.
My Bro about to go sleep and I'm gonna jack his switch and play the fukk out of this thing.