E34 key remote?

[pundit]

Does the red anti-theft indicator on the dash suggest my E34 originally came with a key remote? I noticed in the owner's handbook a section about teaching in new remotes by holding them above the indicator. It doesn't have the factory Alpine alarm system fitted under the rear seat. Just the standard anti-theft system.- TIA

[shogun]

Yes, that looks like the orginal socalled 'switchblade' system.
Do you also have the small rectangular dark colour fob near the switch for the sunroof or the courtesy lights under the roof?
That would be the receiver.