Ok, it appears you have a late-88 engine harness, which was wired in the mass air style of wiring while still running speed density. It needs a jumper on the O2 harness for pin 30 on the ECU.
On the 5-wire O-2 harness, I've highlighted the 5 wires you should have. Can you check these to make sure the colors match the colors on the engine side of the harness? I'm not 100% sure if the 5-wire harness is pinned out the same was as the 7 wire jumpered O2 harness is. I have one at home, but can't check til later. The actual O2 sensor wires are DG/P, BK/LG, DG/P and DB/LG. The White/pink wire is the low oil sensor wire.