This has two meanings. 1.: It can be a large black cloth on a frame used on a shoot to keep light out of part of the composition. 2.: In the cutting room it is a small piece of tape attached to a shot in a roll and used exactly as you would use a bookmark. The flag sticks out the side of the roll, making it easy to find that shot again quickly.
The Pollio Folio - Glossary of Cinematography Terms
The horizontal stroke at the top of the numeral ‘5’.
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