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Just happened this morning, noticed the check gauge light in the dash and the transmission temperature gauge needle is pegged on hot. I pulled over and checked the oil level and it was fine, so I turned around and drove back home 12 miles with no shifting problems. After letting the truck sit for 3 hours I took it out on the road again and the temperature gauge started rising as usual but within 1.5 miles it pegged out hot again. Went to the store a few more miles and shut it down for 10 min. When I started driving I was getting hard shifts and a hesitation trying to go into 5 gear until I went faster and let off the pedal. Stopped at a stop sign and when I started moving again it shifted fine. The tow/haul light is flashing all along, but it will go into tow/haul mode when I activate the switch as I can feel it. I am thinking a faulty temp sensor in the trans because the oil should not overheat in 1.5 miles.
The trans was always serviced at the Ford dealer, the last change was at 103,000 and there is 9,000 miles on that change. Right now after sitting for 2 hours when you start the truck the needle pegs out instantly and is shifting rough or sometimes not going into 5th. gear and sometimes it shifts fine through all gears and then converter lockup. Maybe that temp. sensor in the trans plays a part with the computer for shifting.
PowerstrokeHD, thanks for the info on the TFT sensor. That explains all the eratic shifts since the sensor went bad this morning. I will let Ford replace it on Mon. when I get my truck state inspected.
TFT sensor has been replaced and the transmission is ok now. Ford wanted around $350 for fixing it so I did it myself for $92 and thats a TFT sensor, new filter and 4 quarts of mercon SP which I only used 1.5 quarts for spillage. Ford must be charging $175 an hour because it was only a 1.5 hour fix.
When you take the pan down while looking up at the inside of the trans facing towards the rear of the truck it is between 2 solonoids on the left closest to the front of the trans. Pull the connector off and twist the TFT sensor 90 deg. and pull down grabbing it with a pair of needle nose pliers. You will get several oz. of trans fluid running out when it comes out. Re install in reverse order after oiling the Oring on the sensor. While you have the pan down it's a good idea to change the internal filter which pops out, again oiling the seal on the filter tube.
My truck for the past several thousand miles used to to warm up (tempature of trans oil) in about 3 miles according to the gauge but since replacing the TFT it takes twice that for the gauge to be in the middle. I guess the sensor was going south all along.