The transmission has set a code and you need to get it checked.
When the overdrive off light is blinking that means a malfunction has been detected
The overdrive off light flashing - indicates a malfunction has been detected
The overdrive off light will flash in your gauge cluster when a malfunction has been detected by the powertrain control module
Push the button on the end of the gear selector lever ( P R N etc ) The O/D OFF light will come on in your gauge cluster If you push the button again , it will allow overdrive If the Explorer is shut off , and then restarted , overdrive is normally allowed
On a 1995 Ford Explorer : Overdrive is the normally allowed position Only if you switch overdrive off with the transmission control switch on the end of your gear selector lever ( P R N etcetera ) will you see the O/D OFF light lit up in your gauge cluster My 1995 Ford Explorer XLT has to be travelling around 50 MPH before it shifts into overdrive ( but I have the trailer towing package with 3.73 gears )
By any chance are you referring to the word "THEFT" that blinks in your gauge cluster when the Explorer is shut off and locked up ? That indicates that your alarm system is armed .
On a 1995 Ford Explorer : Overdrive is the normally allowed position If you don't want the transmission to use overdrive ( such as when towing something , or if you are driving in hilly country where you notice the transmission is constantly shifting from overdrive to drive ) push the button on the end of your gear shift lever and the ( O/D OFF light should be lit up in your dash )
I had the same problem with my 1995 explorer xls. And everyone told me I needed a new transmission. I got on the Internet and found a solution. When Your overdrive light flashes. You need to see if your tranny has a place on the outside to adjust the bands on the inside. This helped mine no more problems. Hope this helps.
As long as the O/D OFF light is NOT FLASHING there isn't a problem The O/D OFF light just indicates that the overdrive ( 4th gear ) has been shut off . Press the switch on the end of your transmission gear selector ( P R N etcetera ) to allow the overdrive ( or if the Explorer engine is shut off the next time it is started the overdrive will be allowed , that is the normal position )
There is a push button on the end of your automatic shift lever. Pushing it in causes the Overdrive to turn on and off.
If you don't want the transmission to shift into overdrive ( such as when towing a trailer , or driving in hilly country where the transmission is constantly shifting between drive and overdrive ) push the button on the end of the gearsfift selector ( P R N etcetera ) and the O/D OFF light will appear in your dash . Overdrive is the normally allowed position , but on my 1995 Ford Explorer doesn't shift into overdrive until I'm going around 50 Miles Per Hour
If you don't want the automatic transmission to shift into overdrive, press the button on the end of the gear selector lever. An indicator light will come on in the bottom right corner of your guage cluster displaying O/D OFF