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I have a 2003 E-150 conversion van with a Triton V8. It has about 60k miles on it. Recently it started making tapping noises. Sounds like valve tapping but I'm not quite sure. If I put the van in neutral and rev it, it only does it at lower RPMs. When I put it in drive and take off, it only does it off the start but once I reach higher RPMs, the noise goes away. Another example, lets say I'm going up a slight hill and it shifts up (OD on), then it will make the tapping noise until I give it more gas and it shifts down, then of course it goes away because the RPMs are higher. I did take notice that in winter sometimes when I first start it, a puff of blue smoke comes out the exhaust. Hasn't done it since its been cold however. So, do I have a valve issue?
I can't tell you if you have a valve problem or not.
But, when I had a lifter that wasn't working right causing that dreaded tick-tick-tick sound here is what I did.
I put a quart of marvel mystery oil into the engine and drove for about an hour. I then drained the oil and replaced it with oil formulated for a diesel engine. The diesel oil has more detergent properties in it. I ran that for about 3K miles and then changed back to my regular oil.
The ticking went away with the use of the MMO, and never returned. I later changed cam and lifters but I got many thousands of miles without the ticking after the MMO and diesel oil.