I was doing my on-line search regarding your problem and this is what I found.
The vacuum modulator is on the rear side of the case. You will see a metal line from the engine vacuum going to it. I would
first check to see if vacuum is at the unit. If there is vacuum, replace the
unit. If no vacuum check for a leak on the line. The unit will be secured with a
small bolt and clip. Be careful removing it from the case, there will be a pin in
the center inside hole of the unit and this needs to go back with the new
modulator unit. Be sure there is engine vacuum, you will have to idle the engine,
secure the brakes and slide under to the transmission to do all of this. This is
what the transmission monitors the speed of the engine by, when it's not getting
any vacuum or the unit is bad the transmission will be in full throttle mode and
want shift until the engine over revs. These things also go bad and leak fluid into
the engine intake, causing the fluid to check low every engine oil change but never
showing a leak on the under side.
Good luck, maybe this will help
Yes, a 1992 Ford F-150 equipped with an automatic transmission typically has a vacuum modulator valve. This component helps control shifting by using engine vacuum to adjust transmission fluid pressure. However, the presence of a vacuum modulator can vary depending on the specific transmission type, so it's important to check the exact model and specifications of your vehicle.
A common symptom of a failed vacuum modulator on a Ford F150 is a noticeable increase in transmission fluid leakage, often accompanied by erratic or harsh shifting during gear changes. Additionally, you may experience poor acceleration or a slipping transmission, as the modulator is responsible for regulating line pressure based on engine load. A vacuum leak or hissing sound may also be present, indicating a malfunction in the modulator's operation.
The Vacuum line for an automatic transmission runs from the modulator valve on the rear of the transmission to a vacuum port on the intake of the engine. Any available port will do as long as it is on the intake, not the carburetor if so equipped.
Most modulator valves are on the rear of the transmission. It should not be that hard to find due to the fact that it has a vacuum line attached to it. It controls the transmission shifting off engine vacuum. Also if it is bad it will pull transfluid out of the transmission and burn it off thur. the engine, this is noted with white smoke from the tail pipe.
On a 1995 Ford F150 with a 5.0L 302 engine, the transmission modulator valve is located on the transmission itself, specifically on the rear driver’s side of the transmission case. It is typically found on the TH700R4 or AOD transmission. To access it, you may need to remove components such as the air intake or other surrounding parts for better visibility and access.
I would start by looking for worn vacum line to modulator. Or the modulator could be bad. the modulator is located on the transmission which tells the transmission to shift when the vacum pulls a diaphragm inside the modulator a certain distance. some are adjustable with a flat blade screw i believe.
Drop the transmission fluid pan. its there.
that all depends on what is wrong with it
The sensor is located in the sensor assembly. It is inside of the transmission, the pan will have to be dropped to gain access.
The transmission must be removed. Not a DIY job unless you are skilled.
The 1996 Ford F-150 was available with either a 4-speed automatic transmission or a 5-speed manual transmission. The automatic transmission was the E4OD (Electronic 4-speed Overdrive) transmission, which was commonly used in Ford trucks during that time period. The manual transmission option was the M5OD-R2, a durable and reliable transmission known for its smooth shifting capabilities. Both transmissions were well-suited for the F-150's towing and hauling capabilities.
Motorcraft MERCON automatic transmission fluid for the transfer case in a 1996 F-150 according to the owners manual