I have seen many people asking questions about choosing RNode LoRa parameters, so I wrote up a concise practical summary:
Frequency - This needs to match between nodes. It is somewhat arbitrary, but can be chosen based on context-specific factors like local radio interference, existing use by other LoRa platforms, available antenna sizes, and local regulations.
Bandwidth and Spreading Factor - These both need to match between nodes. They both offer tradeoffs between speed of data exchange, and distance of effective communication.
Coding Rate - This does not need to match between nodes. It is the amount of error correction, so more of it slows down speed of data exchange (and slightly increases power consumption), but makes communication more reliable, especially important when there is a lot of radio interference at the frequency being used.
TX power - This does not need to match between nodes. Higher levels will transmit further, be easier for anyone to detect and locate, will consume more power, and can cause overload problems if two nodes are right next to each other and transmitting at high power. Higher power levels are also more likely to be regulated. The maximum level varies by LoRa device.
For more technical details, this page is very informative: https://unsigned.io/understanding-lora-parameters/