Flag held high in battle displaying each side's or its leader's *arms; showing an armed force where to rally. The loss of a standard signified a battle lost and humiliation. In the *Bayeux Tapestry there appears to be a *wyvern standard being carried before the figure of King Harold, who is shown with an arrow in his eye, i.e. at the moment of his death.
Dictionary of Medieval Terms and Phrases. Christopher Coredon with Ann Williams.