Danfoss thermostat

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Hello,
I would like to swap my old Honeywell thermostat for Danfoss TP5001B. Unfortunately I'm no expert and am unsure about the wiring.
The Honeywell thermostat is connected with two wires. Could somebody advise me whether I can use the Danfoss with 2 wires and how to wire it?
Thank you.
 

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Yes you can use the Danfoss - wiring is Com and No so transfer 1 on Honeywell to Com, and 3 on Honeywell to No. Please be careful though, as the voltage is 230vac. You could also put some brown sleeving or insulation tape on the blue wire to show future people it’s a live wire.
 
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Hello, you're a lifesaver. Thank you very much. There is one more thing I'm not sure about. In the manual there is a setting for Heat Control Mode with options on/off load compensation and on/off standard. I would guess that the on/off standard probably works like a normal hysteresis thermostat, but there is no mention of the degree range(0.5,1?). Haven't got a clue what on/off load compensation means, maybe like tpi ones?
Thank you.
 

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Load compensation works with the boiler, so depends on your boiler type, but if your not sure just set it up as normal on/off.
 

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