Voltage regulators sense system voltage at battery and then tell the alternator what the charge rate ought to be. Voltage at battery is proportional to electrical load and battery state of charge. When load is high (voltage low) alt is told by VR to charge high and when load is low and battery is up (voltage high) alt is told to charge low. Keep in mind we are talking about battery voltage here and not alt voltage. Every voltage regulator has a SENSOR tap or wire that is tied to the bat B+, the closer to the bat post itself the better. This input is how the VR knows what the bat voltage is.
Once the VR gets this info it then modulates the alt output by varying the field current in the alt. Hi fld current gives a high alt charge rate. Mechanical (adjustable) VR's will use a vibrating relay coil to vary field strength and solid state units use Zenner diodes to cycle a switching transistor that turns the field current on and off at a rapid rate. The rate of ON time compared to off time is proportional to system voltage.
Low voltage gives more ON time and high voltage more OFF time.
The above is the same for all voltage regulators, so getting something other then the OEM unit to work on your tractor is not hard to do.
They are two types of field circuits, the "A" type and the "B" type. In the "A" type the field coil is fed B+ from the bat and the VR modulates the gnd side to vary the field strength. Most, but not all, solid state units are A's.
In the "B" type the coil is grounded at one end and the VR modulates the B+ into the input end.
You need to know which type you have (A or B) before you can shop for an other then OEM replacement.
The cheapest and most simple (two wires) "B" type VR would be from a Chy corp vehicle about 1965 to 1980 this is a mechanical unit. The later Chy corp vehicles used a "A" type solid state unit, also two wire.
Hopes this helps.
If you can send a wiring print of your system it would help.
cheers,