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it is suppost to be between the two holes in the dip stick when the tranny is ice cold.
the maual say not to add fluid if it is in the crossed lines of the stick.
i first started having a problem when i filled it to the crossed lines and fluid blew out the front seal. i looked in the manual and found i had over filled it. i felt real bad if is was my fault for blowing out the seal. others have said their seal also went out.
donno if it is from over filling or if it is just another ford weak point.
lasher
This is just hear say,not sure but would make sense.Heard that there is a modification on the newer model front seal,like a cage or something around the seal they pinch or punch to hold it in place.If anyone knows would be enlighting.
Mojo Hobo
If the cat is next to the modulator as is the case with most 3.0L, you can get the heat shield from a 4.0L A4LD (Explorer's or Aerostar's are OK, I don't know about Rangers) and it'll fit, but you also need to get the stud that bolts the modulator on the tranny. 3.0L A4LD uses a bolt to do that, 4.0L version uses a stud so that the the shield can be attached with a nut.
If you cannot find the shield, get a piece of relatively thick tin foil from a baking pan, form a heat shield and bolt it onto the tranny oil pan bolt (using only a couple of bolts). No need for any insulation as it is strictly a radiation shield. It will do wonders to the life expectancy of your modulator.