The kind of transmission fluid for a 700R4 transmission is Dexron III or Dexron VI ATF.
The 700R4 transmission requires that you use Dexron-type Automatic Transmission fluid, which is Dexron III or Dexron VI ATF.
Although the 700R4 was also originally designed and made for Dexron III, General Motors newer Dexron VI fluid is also fully backward compatible to work with the 700R4 transmission and also provides better thermal stability and is also the recommended upgrade for transmission fluid.
A standard pan drop and filter change for the 700R4 transmission requires between 4 to 6 quarts of transmission fluid.
If the transmission and system including the torque converter of the 700R4 transmission is completely dry, then the complete system of the 700R4 transmission along with the torque converter holds around 11 to 12 quarts of transmission fluid.
If your 700R4 transmission has been modified heavily or has been built for aggressive racing shifts, then it's often suggested that you upgrade to and use Redline Synthetic ATF or mix in Ford Type F for a firmer shift with your 700R4 transmission.
To check and fill the 700R4 transmission fluid.
Start by starting the engine and allowing it to idle in park.
Ensure that that the 700R4 transmission is also fully warmed up.
Then pull the dipstick for the transmission fluid and then wipe it clean.
Then put the dipstick back in and pull it out again.
When the 700R4 transmission is full of enough fluid, the fluid level for the transmission fluid should be and fall within the crosshatched "Hot" zone.
If it's low, leave the engine running and add some more transmission fluid in small amounts at a time, like half a quart at a time or less.
And use a long funnel to avoid overfilling and make sure the funnel is clean and dry as moisture and debris can damage the transmission.