This is a useful tool to help children to understand key details in a story . Students are motivated to draw or write in the traffic light the characters, setting and main detail, which implies a certain grade of inference!
There is also another trafiic light for sequence of events, to support the little ones recognizing the beggining, middle and end of a story.
Besides, the traffic light could be used as a intoduction to the class, for instance, playing with the colours,
red: stop to think about who? = Characters,
Yellow: Get ready... Where? = Setting
Green: Action! .. What happens? Events
I hope it is useful for you and your kids!