Why has my Volvo V70 deisel automatic transmission warning light started flashing?

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Why has my Volvo V70 deisel automatic transmission warning light started flashing?

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The flashing starts on the control panel & the low gear shift selector button as soon as I turn on the ignition but before as well as after the engine has started. There doesn’t appear to be any problem with with gear shift (I have driven 300 miles since it started) & the fluid levels are okay. (the car has done 230,000 miles but is serviced regularly) A: I get the same thing on my 850 auto and it happens if I shift to L but it goes away after a time in D when I have driven a while and the transmission has warmed up, I think it is the gear selector cable needing adjustment. mine has done almost 200,00 miles so I think it is a wear thing but I like you would welcome confirmation from a volvo specialist.

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