IIRC, it has a 4 degree temp. flux. So, set it 2 degrees lower than what your target temp is. It will turn the freezer on at 2 degrees warmer than your target temp. and turn it off at 2 degrees lower than you target temp, keeping your freezer temp in the middle of the 4 degree variance.
To be honest, I've stopped relying on it's temp settings and just put a calibrated/reliable thermometer next to the probe. Then I just fine tune the Johnson Controller until I'm happy with the thermometer reading. I've found the Johnson to be off by a few degrees.