The light you are describing is the "Coolant Temperature Warning Light". It indicates that the engine coolant temperature is too high and that the engine is at risk of overheating. If you see this light come on, you should pull over and let the engine cool down. You can also check the coolant level and make sure that the radiator fan is working properly.
The fact that your alternator is draining and that you have a new battery but the lights are still on suggests that there may be an underlying electrical issue with your vehicle. It's important to have your car inspected by a qualified mechanic as soon as possible to diagnose and fix the problem to avoid any further damage.
