1994 318is Dash board light

[BaXuyen]

The light on the dash board come up, it look like a gear with an exclamation point in it. I don't know what it stand for. If anyone know please let me know. and how do it fix it

[OKCSuburban]

From what you are writing I think it is a Transmission Control module for electronic-hydraulic transmissions. The Lamp should go out after the engine is started according to my book.
"If the indicator stays on or comes on during normal operation:
The transmission control module or the gearbox has failed.
If the failure message appears while the vehicle is moving the 4th gear will be selcted. The unit provides enhaced performance by selecting nad maintaining 3rd gear when the vehicle is stopped. The engine swiched off and then on again. Should this happen avoid extreme engine loads. ""

Did you say you have an automatic? I hope so....

[gismo3]

I have the same problem with this model year/ make.

What is the estimated cost to fis the proble, Best Scenario / worst.

Also, can I still drive in the meantime ? What do they mean by "do not drive with extreme load ?"