The modulator valve on a 1993 Ford Aerostar XLT is part of the transmission. It's
not a standalone component easily accessible under the hood. It's internally located within the transmission itself. Therefore, you won't find it easily accessible without removing the transmission.
If you suspect a problem with the modulator valve, you'll need a transmission specialist or mechanic to diagnose and repair it. They'll likely need to remove the transmission to access and replace the valve.
