Separating multiple user-defined commands with | (bar)

I have the following defined in my vimrc:

command! FI
\ let &l:foldenable = ! &l:foldenable |
\ let &foldcolumn = 5*&foldenable

Sometimes, I want to do

setl foldmethod=indent | FI | FI

This generates an error about trailing characters. Prefixing the bars with backslashes do not help.

I haven't found anything in

:help :|

about this. Can someone point me to the relevant reference to determine what the limiting factor is, and whether there is a way to issue multiple user-defined commands on the same line?

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