sorry to revive an old topic but im having the same issues on my 1996 2.4l loud knocking started 2 days ago, replaced the spark plugs and wire boots as they were well worn out but knocking still persists.
i have oil in the same spots as the image above and the same sounds as post #1 if not even louder then his. i have the car on stands and using a long screwdriver i put my ear on the handle and touch various spots on the motor from underneath the car i cant find a clear spot of the noise however on the top side i listen to the timing chain cover and can hear the hissing and a slight echo of the knock. when i probe over plug#1 location on the cover i can hear the knock clear as day, when i move down to 2,3,4 it sounds similiar to the hissing echo in the timing case.
if i remove the valve covers what kind of wear am i looking for? if its a rod and i remove the oil pan what is it im looking for?
i don't want to swap motors as i had a 2.2l and scraped it for the 2.4l dohc convertible that was in much better shape, the car is clean and runs great, i have no rough idle or hesitation in the acceleration just a loud knock that seems to die down once i get into the 3rd gear of the tranny or over 60km