Nope. To reset you need the key that's it.

OL means worn out should read shorted. Are the pads worn out?

You can strip the end of the wire and twist together to test the system but if the pads are worn they need to be replaced.

When the sensor is replaced, to reset you simply turn the ignition on without starting and wait a full minute.

__________________
2011 E70 • N55 (me)
2012 E70 • N63 (wife)