Found an old picture:
A two or three hook ledger rig will catch just about anything. For red cod a 5/0 hook is fine although you could maybe use a bit bigger to avoid hooking small dogfish although in reality you’ll hook even the smallest of dogfish on a 10/0 hook if they’re around in numbers. I make traces up with 80 or 100lb mono which should make your traces last longer and prevent against abrasion. Using swivels on your trace help prevent fish rolling and getting tangled up and also make it easy to clip your trace to your mainline if you use a clip swivel.
As for using lumo beads/tubes, just put them on the dropper loop and with the tubes I push them up just over the eye of the hook to keep them in place and also prevents your mono from getting worn or bitten off by dogfish or other sharks. Might make a post one day of how to make certain traces etc