It is recommended that you provide an input file and an output file to express more clearly what you are trying to accomplish. Also, include any code that you have attempted.
Let me give it a go:
Let's assume that each input line looks like this:
>NODE_<node>_length_<length>_cov_<cov> <data>
<data1>
<data2>...
>NODE_<node>_length_<length>_cov_<cov> <data>
We can then parse the input, using the underscores and spaces as field separators. Here's an awk program that may work for you:
awk -F'[_ ]' '
$1 == ">NODE" { p = 0 }
$1 == ">NODE" && $4 > 504 && $6 > 2 { p=1 }
p == 1 { print }
' FASTQ_file
Using your example as input, there is no output. But here's another sample input file:
>NODE_303603_length_560_cov_2.000000 CAGGATGAGATCGGAAGAGCACACGTCTGAACTCCAGTCACATTACTCGATCTCGT
more data - don't expect to see this output
>NODE_303603_length_505_cov_2.000000 CAGGATGAGATCGGAAGAGCACACGTCTGAACTCCAGTCACATTACTCGATCTCGT
more data - don't expect to see this output
>NODE_303603_length_505_cov_2.000001 CAGGATGAGATCGGAAGAGCACACGTCTGAACTCCAGTCACATTACTCGATCTCGT
more data
this is the data we expect to see
>NODE_303303_length_504_cov_30.000000 CAGGATGTTGATCGGAAGAGCACACGTCTGAACTCCAGTCACATTACTCGATCTCGT
more data - don't expect to see this output
And here's the output when we put it all together:
awk -F'[_ ]' '
$1 == ">NODE" { p = 0 }
$1 == ">NODE" && $4 > 504 && $6 > 2 { p=1 }
p == 1 { print }
' FASTQ_file
>NODE_303603_length_505_cov_2.000001 CAGGATGAGATCGGAAGAGCACACGTCTGAACTCCAGTCACATTACTCGATCTCGT
more data
this is the data we expect to see