Whenever flashing "red" or "yellow" signals are used they shall require obedience by vehicular traffic as follows:
a. Flashing Red or Stop Signal - When a red lens is illuminated with rapid intermittent flashes, drivers of vehicles shall stop before entering the nearest crosswalk at an intersection of streets and/or streets and railroads or at a limit line when marked, or if none, then before entering the intersection and the right to proceed shall be subject to the rules applicable after making a stop at a stop sign.
b. Flashing Yellow - Caution Signal - When a yellow lens is illuminated with rapid intermittent flashes, drivers of vehicles may proceed through the intersection or past such signal only with caution.
(Schererville Town Code, § 8-2-27)