Recently picked up 98 ford ranger xlt 4x4 4.0 automatic extended cab and everything seems to be working fine except that the overdrive light begins to flash after a while of driving. I know that it is working because it is engaging and disengaging fine. Is there any reason why the light would flash? Thanks in advance for any advice!

 

the light will flash because a code is set...have it scanned...if it takes a while for it to flash, you will probably retrieve a P0741 and P1744 for the torque converter

 

The symptoms that I am having that I have realized are 1) terrible gas mileage 2) car seems like its sticks a little at slight acceleration and then when I stop it shudders. 3) overdrive blinking light comes on after a while and when I get off the highway or after the light starts blinking the tranny shifts real rough in low gears? Any specific fixes. Does this sound like the torque converter?

 

Until you get the diagnostic code(s) pulled, you are just guessing. The codes can point you in the right direction and save you time and money.