Yes, “sola” can be translated as “only” or “alone”. The title “sola Scriptura” stands for and represents a principle, or a practice, or a teaching, or a position, that “only Scripture” or “Scripture alone” is the final authority in refuting or validating a doctrine of the church.
The principle of SS does NOT mean, as you suggest above, that the church should hold to Scripture alone, and nothing else. That it a misrepresentation of SS.
SS has no issue with tradition. The 16th century advocates of SS welcomed church traditions, and acknowledged them as valuable, worth holding to, providing quality instruction in Christian living. The only proviso they wanted the church to retain was that decisions based on tradition should be subject to Scriptural oversight … that Scripture alone was the final arbiter on doctrinal matters.