I have a '96 with probably same problem...when yours is out, do the emergency flasher still work (mine did) changed the switch $160! and flasher to no avail..finally got under dash and started tracing wires....all looked okay..by chance pushed up on the fuse box and heard the flaser relay make that funny fuzzy sound that you get when the indicator won't work.

The indicator started working again! If I moved the fuse box around it would stop. Unplugged all the power inputs and doused with contact cleaner...has been working now for two weeks.

There is a recall for 95 to 97 models for the main wiring harness in high temp and humidity climates (I am in Houston). Am tempted to take it in but worry that quality mechanics at Ford will just introduce more faults in this undertaking.