The only way I would switch from Mercon (what the E4OD was originally filled with) to Mercon V is with a complete drain of the pan and the torque converter.
Mercon is a standard mineral oil fluid while Mercon V is a synthetic fluid. Supposedly mixing the two is no big deal but I wouldn't do it considering how expensive an E4OD transmission is. As mentioned Mercon V is supposed to handle HEAT better. Ford (Motorcraft) nolonger produces original Mercon but several aftermarket manufacturers (like Castrol) produce Mercon/DextronIII fluid that is better than the original fill fluid.
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Today's Featured Article - Tractor Profile: Farmall M - by Staff. H so that mountable implements were interchaneable. The Farmall M was most popular with large-acreage row-crop farmers. It was powered by either a high-compression gas engine or a distillate version with lower compression. Options included the Lift-All hydraulic system, a belt pulley, PTO, rubber tires, starter, lights and a swinging drawbar. It could be ordered in the high-crop, wide-front or tricycle configurations. The high-crop version was called a Model MV.
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