Wolfbane has released a new tracer script on the BI Forums to simulate more realistic tracers in OFP. Also Oyman has created a short 14 second video which shows off the script. Also a thanks goes to Miles Teg for supplying the picture.
The tracers comes in 4 colors to choose from. There are two types of tracers, normal and glowing. The normal tracers can richochet off the ground realisticly and can also be set to a specific size. The glowing tracers lights up the ground and/or objects it passes. You can set the number of rounds between each tracer fired. Check out the readme on how to run the script.