King James Version
1 The LORD hear thee in the day of trouble; the name of the God of Jacob defend thee;
2 Send thee help from the sanctuary, and strengthen thee out of Zion;
3 Remember all thy offerings, and accept thy burnt sacrifice; Selah.
4 Grant thee according to thine own heart, and fulfil all thy counsel.
5 We will rejoice in thy salvation, and in the name of our God we will set up our banners: the LORD fulfil all thy petitions.
"We sing of Your deliverance, And in the Name of our Elohim we set up a banner! YHWH does fill all your requests!" (The ISR Scriptures)
"We will gilah in Your Yahshua, and in the Name of our Elohim we will set up our banners: YHWH fulfill all Your petitions." (The Restoration Scriptures)
"We shall rejoice over your salvation, and in the name of our El we shall set up our banners. May YHWH fulfill all your petitions." (Interlinear Psalms)
This verse might not have been referring to banners or flags but rather signal fires that were lit on the mountain tops for all the people to see.
banner/dagal - (H 1713) - a primitive root; to flaunt, i.e. raise a flag; figuratively, to be conspicuous:--(set up, with) banners, chiefest.
6 Now know I that the LORD saveth his anointed; he will hear him from his holy heaven with the saving strength of his right hand.
7 Some trust in chariots, and some in horses: but we will remember the name of the LORD our God.
8 They are brought down and fallen: but we are risen, and stand upright.
9 Save, LORD: let the king hear us when we call.