Spanish translation: sacar, enarbolar bandera roja
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Explanation: Hello. Here goes another meaning for it, link 1: "The Issue is Not to Wave the Red Flag But to Show Our Colours Through Our Deeds - Speech of the Marxist- Leninist Party of Quebec (PMLQ), May 27, 2000 -... Never has the need to find a solution to the crisis been so clear and urgent... They justify their anti-people measures in the name of the well-being of the society, even though their avowed aim is to make the rich richer...". Etc. "To show a red flag": to be a Communist, lefty, etc. Not very fashionable these days. I was told that once when I mentioned a pay rise for all, not just for me... ("you're waving the red flag now, aren't you boy?"). Above are translations in a different register (never heard "ondear la bandera roja" to refer to a commie in Spanish). Maybe someone outtathere knows an idiomatic one. Context!!! Happy pickings cheers :-)