Mercon question in 1994 f150
 

I have a 1994 f150 with e4od automatic . I replaced the fluid, torque converter pan filter the whole fluid capacity. When I picked up the fluid I was sold merconV and told it was all the same. I now see in several places they are not the same and the truck takes plain mercon. Now this truck is old and lots of miles so im not sure the problem im having is caused by this but maybe someone can tell me. the truck when I start it an put it in reverse, then drive I get a bang and everything in the driveline has been checked and repaired. also when I take off the shift first to second is rough. I hate to replace another 100 + dollars in fluid if its not the problem . it also gets worse as it warms up . Maybe the old girl just needs rebuilt ?
Thanks for any info.
Grumpy

No need to worry about using Mercon V. FORD TSB #06-14-4 released on July 24, 2006 states that Mercon V is to be used in all applications that formerly called for Mercon fluid. Mercon V is actually much better than Mercon.
Your last sentence likely is the solution. Very least, there could be shift solenoid/accumulator issues within the transmission. I would take it to a good transmission shop and get an estimate. I am not a big supporter of additives but you might want to remove a pint of fluid and add a bottle of that thick Lucas transmission additive since you say it gets worse when it warms up.

Did you notice if the OD light is flashing at any time?
Also, can you have the computer checked for any trans codes.

thanks I was not sure. No I had no lights flashing .
Now this brings me to the valve body. it has been my main guess as to the problem so how difficult are they to change, I have done tranny work before just never ford only chevy . If I get a new valve body is there a problem doing this in the vehicle, I cant do r and r of the tranny health reasons just wont allow.
Thanks for the help
Grumpy

Valve bodies usually all come off pretty much the same. If you have done GM, Ford not that much different. You can swap the valve body in the vehicle, just expect to get a fluid bath and keep tract of where the different length bolts go. Again, if you can manage that.
If you can tie up the vehicle, why not drop the pan and look for possible broken accumulator springs. You can most of the time get them from a dealer or trans parts supplier like Transtar.or Sonnax. If you remove a lock ring to remove an accumulator piston and determine there are broken spring(s) ,you might need a special tool to hold the piston in position when it comes time to install the retaining(lock) ring.Circumstances will probably determine which course you might decide to go.

Thanks I shall see if I can get the issue found and fixed. like they say you cant brake it if its already broke.
Grumpy