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105hp Chrysler Bad ReverseWiring

"Hello all, I just bought this

"Hello all, I just bought this boat a month ago and it runs great... in forward, I really dont get any power out of it until im near full throttle. Once i get there the boat will get up and go and plain out. When i try to go into reverse i can hear what sounds to be like gears clicking or grinding. Sometimes it will go into reverse but when it does it will barely move backward. So I took it home, pulled the hood off the outboard and inspected the engine, (im new to boatmotors) ive noticed a 14-16gauge orange wire that is coming from the main panel wrapping around the motor and not attached to anything. It looks like it connects to a spot above the plug wires? Please if anyone can help me it's greatly appreciated."
 
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