This is a pic of the Solonoid Shift Valve SL or "E". The toyota dealer knows it as valve #3. I tried to find this at an auto parts store and did not have any luck. They all seem to have the solonoid valves that go on the inside of the pan but not this one. For all who are curious, I did NOT check NAPA. I ohm tested the old one and I got nothing, although when I energized it I did hear it clicking. The ohm reading should be between 8 and 15 ohms. I installed it today, cleared the code and it ran like it should. RPM's were back to normal and I assume my mileage should go back up. Checked to see if I had any pending codes when I got home and nothing, notta! This is a very simple circuit. Basically the wire runs straight to the ECM. If the solenoid is not bad, then the wire needs to be tested. If that is good than chances are it is the ECM.
The valve is right behind the Neutral/Safety switch connector. The one with the black switch connector, not the white. Kinda hard to see. The neutral/safety switch needs to be removed in order to get to the two bolts to pull the valve out. CLEAN the area before you remove the valve! no need to have bits of dirt falling into the valve body. If I missed anything, please weigh in.