Correct
But..... The white stripes represented the "bandages".
The red stripes represented "the blood of the wounds"
The "stars" represented a "New Constellation" of the "heavens"
A "New world", as it were.
Geez!
For me that was "history 101" in the second grade back in the 1940's.
(No <sarcasm> intended)
I had to remember from the 50's --- old timer...lol.