Unreal Engine 4 has four light types: Directional, Point, Spot, and Sky.
-Directional lights are primarily used as outdoor light or any light that needs to appear as if it is casting light from extreme or near infinite distances.
-Point lights are classic “light bulb” like light, emitting light in all directions from a single point.
-Spot lights emit light from a single point, but have their light limited by a set of cones.
-Sky lights capture the background of your scene and apply it as lighting to your level’s meshes.
Making a flickering light from a point light:
In this example we take a simple point light and we manipulate it such that when a player touches a trigger: the color of the light changes, the light begins to flicker, and after 5 seconds, the light returns to normal.
Giacomo Verri 