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5.0L (1979-1995) MustangTechnical discussions on 5.0 Liter Mustangs within. This does not include the 5.0 from the 2011 Mustang GT. That information is in the 2005-1011 section.
Is the ticking or knocking noise comin from the top or bottom end the bottom end could be a bad rod bearing and the top end which most of the time it is it's your lifters!!!!!
If you just did a hci swap more then likely its a lifter or rocker. Did you put new lifters in? Make sure there wasn't any play in the rockers. Its possible that a rocker could be tapping the valve cover from extra lift, especially if you have 1.7 rockers.