Adding a reverse switch makes a disc grinder more versatile. It allows you to grind both sides more evenly ( and more easily), by changing the disc direction. If you are right handed, grind the left side of the blade CCW and the right side CW.
For a 120VAC reversible motor, the switch is Single Pole Double Throw- Center Off ( SPDT-CO, often referred to as an ON/OFF/ON switch). The input voltage goes to the common terminal of the switch, and the two load terminals go to the CW and CCW posts on the motor. I like to use the rotary type switches for this function. As always , make sure the switch is rated for well more than the motor current. For a 1HP motor, use a 20 or 30 Amp switch.
Stacy