Farmall 706 - Dash Oil light on when TA is in direct

Tractor is a Farmall 706. This problem started last fall when the tractor was on a grain auger. Got up on the tractor to start it to auger some grain and noticed the red dash light was on. Engine sounded fine with no knocks, oil level was good. Believed right away the light was coming from low pressure at the multi control valve. Tractor had no power steering and no brakes. Did over fill transmission. Did change the hydraulic oil filter. Did get the pump to prime once and everything worked fine. Eventually lost steering and brakes again running the auger. Decided it was the MCV valve pump. Pulled the pump and installed a new pump. Put all new gaskets in the MCV and all new springs. Think I got the springs all back in correctly. Anyway when I got everything back together this is what happens. In the low side of the TA the dash light is off. When you shift to the direct or high side the dash light comes on. Also drove the tractor between farms yesterday and the tractor coasts or free wheels down hill in the low side. Have not ran the tractor in direct due to loss of lubrication to the rear end. So, now several people are thinking I really didn't have a MCV pump problem, but actually a TA problem. Prior to putting the tractor on the auger last fall it didn't show any of these problems. I am just trying to make sure I don't replace the TA when that isn't really the problem. Prior to replacing the pump I think the light was on whether the TA was in high or low. Now the light is just on in high. Like I said I did rebuild the MCV - could I have screwed up something there? I must say with the new pump it always has steering and brakes whether in high or low on the TA. Just found out about the free wheeling downhill yesterday. Thanks.

Well , if it free wheels in the low side the then you not only have a problem in the high side but both sides , Now you said you rebuilt the MCV , There is a lot more then just stuffen in a spring kit and new gskt.and a pump . The spring kit is NOT a PLUG and play as you havve to set the pressure on them MCV and to do this ya need a gauge to see what you have at normal oil operating temp then you have to ADJUST inner spring lenght on the pressure reg . valve spring . For a 706 i set pressure at around 235-245 . But you have other problems and i am not going to fill the page with all the could bee's , but i will touch on a couple . One your T/A is toast , two you could also have a crack in the pick up tube . Now if your thinking on doing the T/A yourself here again it is NOT a plug and play dealas you have to set end play then what every ya set that end play by shimming you have to shim the constant mesh gear on the lower shaft the same to keep gear alignment , lower counter preload has to be set the nut on the lower shaft SHOULD be drilled and pinned once preload is set. Then ya have to know how to do the proper clutch adjustment and setting of the trans brake then the proper setting of the dump valve . Things your going to need , Splitting stands, heavy jack stands or cribbing , a cherry picker , Special socket for the low counter shaft , Dial indicator and base a offset drilled heavy washerto hold the quill to the end of the T/A while removing and installing the T/A assembly , Dial calipers or Mic., Hyd. fitting to hook up a pressure gauge a pressure gauge that will read 600 Psi and one that will go 4000 Psi , one five gallon bucket of cuss words a fresh box of bandaids and a BOOK . Then ya need the T/A assembly and a gskt. pack . one new pressure plate one new clutch disc a new release bearing and throw out bearing, one NEW IDPTO input shaft and bearing along with a oil slinger and the seal kit for it . That will get you started , then from there you will see how much more ya need to did into the piggy bank.