In this study, a new type of Continuous Wave (CW) signal modulated by pseudocode family is designed, solving the problem of more quantity of warhead dynamic fragments, larger speed variation, larger distribution and more difficult resolution during the measurement of warhead dynamic fragments. This signal has thumbtack ambiguity function and multiresolution characteristics. It can meet the measurement needs very well. Herein, correlation properties and ambiguity function characteristics of this signal are analyzed. Moreover, the signal’s limitations are reported. Recommendations pertaining to signal selection, number option, and usage are presented. The analysis results show that this signal can be used for dynamic fragments measurement of warhead. This signal is also of great importance to improve complex waveform design and radar performance.