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Have a 1992 Ford Explorer with Automatic Transmission 4x4, 4dr. The over drive quite working. Everytime you shift it into overdrive and press the gas the RPM's go up but the vehicle doesnt move. If you shift the vehicle into the regular drive range from the park mode the vehicle moves and as well if put into other gears from Park with the exception to the Overdrive gear. If you shift the vehicle into other gears from the Overdrive spot it takes a few seconds for it to lock into gear. Despite having the transmission overhauled it does the same thing as before. Any Suggestions?????
It sounds like your overdrive drum or sprag (Star washer) Could be shot. I just exploded my overdrive drum's clutch piston. Somehow the snap ring let loose and all the return springs went everywhere and ground off the spring lugs on the piston.
I would say your tranny is good and ready for a rebuild. I would check with a transmission shop though. Most give a free road inspection and may be able to find something else that is wrong with it.
I would look at the vacume lines / system. I had a vacume line above the drivers side exaust manifold burn through and it caused the OD on my EXP to act strange.
Your description leads me to think you might be low on ATF. I wad a leak and if it got a bit low the trans would not engadge in the od and slipped in the other gears. Once it warmed up it was better.
Here is a link to earlier posting with similar problems you described. As wierd as it sounds, this poster finally found that his Throttle position sensor was the problem.