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Got a 99 f250 diesel w/ automatic transmission. It has 220,000 miles on it and has been a tow rig all its life. The overdrive light has been flashing on and off for the past couple of months. when taking off from a dead stop, it does take the transmission a little longer to upshift and sometimes downshifts funny at highway speeds. I tried 2 seperate actron code readers to read the computer, but they don't read it. Someone suggested that the torque converter maybe bad,but could always use a second or third opinion.
The light is just a general warning light, like the check engine light. It could be almost anything is wrong. The only way to find out is a code reader.
Ahhh ........ the notorious flashing O/D light......... you need a new torque converter,.... I have fixed this problem to many times. Do you have any type of programmer on the truck? If so you can run your diagnostic codes and it will tell you what if it is the converter. Your symptoms are the same as all the ones I have fixed.
I have a 2003 F350 with only 7200 miles on it. Towed a 20 ft trailer last week and got the flashing O/D light with a check engine light. I took it to the local dealer and they told me that the codes all pointed to the module in the transmission. It was changed and less then 50 miles later I have got the light again with hard shifting. Have you heard of Ford having alot of transmission problems with their 03 models?
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