High-resolution hydroclimate proxy records are essential for distinguishing natural hydroclimate variability from possible anthropogenically-forced changes, since instrumental precipitation observations are too short to represent the whole spectrum of natural variability. In Northern Europe, progress in this field has been hampered by a relative lack of long and truly moisture-sensitive proxy records. In this study, we provide the first assessment of the dendroclimatic potential of Blue Intensity (BI) and partial ring-width measurements (latewood and earlywood width series) from a network of cold and drought-prone Pinus sylvestris L. sites in Sweden. Our results show that all tree-ring parameters and sites share a clear and strong sensitivity to warm-season precipitation. The ΔBI parameter, in particular, shows considerable potential for hydroclimate reconstructions, here permitting a cross-validated precipitation reconstruction capable of explaining 56% (1901–2010 period) of regional-scale warm-season high-frequency precipitation variance. Using ΔBI as an alternative to ring-width improves the predictive skill with nearly a 20 percentage points increase in explained variance, reduces signal instability over time as well as allows a broader seasonal window (May–July) to be reconstructed. Additionally, we found that earlywood BI also reflect a positive late winter through early summer temperature signal. These findings emphasize that tree-rings, and in particular wood density parameters such as from BI, are capable of providing fundamental information to advance our understanding of hydroclimate variability in regions with a cool and rather humid climate regime that traditionally has been overlooked in studies of past droughts. Increasing the spatio-temporal coverage of hydroclimate records in northern Europe, and taking full advantage of the opportunities offered by the wood densitometric properties should be considered a research priority.