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According to the 2000 Ford Mustang Owner Guide : ( Motorcraft MERCON automatic transmission fluid is used for the convertible top )
red transmission oil. no need for iso 40 hydraulic oil, red is light weight and that's the trick. simple,,getting to the resovoir is another story,usally throught the rear side panel or if your luckey, the trunk rear cover below the rear window....either way you need to buy a tool for the correct way to remove the panels.
I found a very thorough answer to this on Edmunds.com, check the 'related links' below. This is what it says: Electric-/hydraulic convertible top pertains to a closed hydraulic system. As a rule, a filling is only required after opening hydraulic circuit (e.g. after replacing parts). Remove CD player if installed. Remove screws of left luggage compartment trim and remove trim. To fill, convertible top must be opened, actual oil level can only be determined when in an opened state. Remove oil filler plug. Oil for convertible top hydraulics: G002 000. Top off hydraulic oil only until oil level is between "Min" and "Max" marking. Use a fill container for filling hydraulic oil. Fill container must only be used exclusively for this purpose in order to prevent hydraulic oil impurities by other oils. Screw oil filler plug tightly (5 Nm ).
According to the 2000 Ford Mustang Owner Guide : Motorcraft MERCON automatic transmission fluid is used as the convertible top fluid
5 with filter change
If your referring to hydraulic oil, u could be on about power stering fluid, which is located in black reservoir right next to battery,
what makes this motor work? is this hydrolic lines ? can you add more oil.
Hydraulic fluid and hydraulic oil are one in the same.
Using a 1969 Ford Mustang or a 1969 Mercury Cougar with the 351 cubic inch / 5.8 litre V8 as examples : ( Motorcraft FL-1-A engine oil filter )
hydraulic oil
emolliating hydraulic oil in the lowest part of the hydraulic system.
Hydraulic oil and hydraulic fluid are different. Hydraulic fluid is used in small systems such as car brakes. Hydraulic oil is used in large systems such as loaders.