I have ord 2001 F-150 with a4.6l V-8. The overdrive off light is blinking. I checked the radiator and there appears to be transmission fluid in it but when I checked the transmission fluid dip stick it is bright red as it should be any ideas.

 

That blinking light is your check tranny light. When mine did it I was a little low on fluid. Disconnect your neg on battery for a minute reconnect and drive. Your tranny will act funny when you let off throttle while it is resetting but only for a few miles