6.0 Powerstroke V8 Turbo White Smoke and Black Smoke with motor ticking? - 1

I have a 6.0 Liter Powerstroke Turbo V8 with 106,000 mile. 3 years the motor started making a severe ticking noise so I parked it.
Here's my question. Yesterday I spent time on it and got it running. Initially, it blows white smoke or steam while in idle. After a short period it turns to heavy black smoke than a ticking noise starts from the turbo or under it at teh rear - right side of motor. Road testing it the black smoke eventually turns to the white or steam and the noise stops. Let it idle again and the black smoke occurs with the ticking. It also seems to lack power when I drove it but do not push it. Also the fuel dropped considerably in the short time I had the motor running. This motor is also one that has a class action suit against. I live in Mexico and beofre I take it to Ford or another mechanic I want an idea to make sure I'm not bilked for something major and it turns to be minor. T I A

Those engines are notorious for turbo failure. That may be the black smoke, remove the air line from the turbo to the intake and see if it has oil in it. If so the turbo is where the oil is coming from and needs to be replaced. That may be the noise you hear also, bad bearings. Of coarse that would require the cab to be lifted if your thinking of doing it yourself. The white smoke would be anti freeze if the engine has run long enough to remove all the moisture in the exhaust system. That would most likely be the brass tubes the injectors sit in, there known to crack also. You should be getting air bubbles in the radiator if they are leaking but not all the time. A pressure test on the water system should show up a leak in the injector tubes. You need to do the simple things first air cleaner dirty or boost pressure test to insure there are no pressure leaks in the intake system.

J J Thanks for your input. I've had people here ( weekend mechanics ) saying it's a piston, crank bearing, etc… You pretty much confirmed my thoughts. I did watch a you tube video and am 100 % sure it'll go to the Ford Dealer here in Mexico. The good thing is the labor is cheap. I will have it towed not to put any more stress on the motor.