Warns of an approaching train. When the red lights are flashing, a train is approaching. Stop and wait for the train to pass, then proceed when it is clearly safe to do so.
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Emergency lightsThese lights activate when a train makes an emergency brake application. Emergency lights are usually red, and often flash.
Just as cabooses were variously called hacks, crummies, cabins, etc., end-of-train devices go by a variety of names. Besides ETD, there's EOT, marker, FRED or Freddy (flashing rear-end device), and even Billy and Redman. The simplest ETDs are merely darkness-actuated flashing lights that serve only as markers.