OK, told everyone about the "Engine" light coming on ...on my 77 Maverick 250 6 cyl. Car ran and runs great, NO NOISE (engine), NO TAPPIN, NO KNOCKING, so when the "Engine Light" came on after a nice 50 mile plus, 70 MPH freeway ride I was a little concern. Thought of all the bad first, oil pump, bearings, whatever. The NO NOISE sort of through me. Went out and got a set of gauges today, haven't installed them yet, want to really see what the oil pressure is, but while sitting up at the smoke shop, :Handshaketalking car stuff with the other "old guys", the EGR and PVC valve came up. On these 77, 250 six, they had both.....does anyone else other than a few of us think that possible a bad, clogged EGR or PVC can trigger an "Engine Light"....hmmmmmm
only two things turn on the engine light. very low oil pressure or high engine temp. if your oil level is good and the light stays on solid then its most likely the engine temp is too high.
Try this, disconnect both wires to the oil and water sensor and see if the light goes out. Than connect one of them and see if the light goes back on. Do that for the other one. This will tell you if you either have a bad sensor of a short in the wire.
is the engine getting hot? If not check to see if the pcv valve is sucking vaccuum an not clogged. This will not make it run hot , but will stumble. Check the carb to make sure your butterfly opens all theway. That's all I can think of from my experiance with my first car.