Description
NOTE:
This post was created on the 4th of July, 2016, so it's been more than four years, so my personal thoughts could possibly varied a little in relation to the scenario/s related to the said post.
In real life, there's a little doubt among the majority within the Valencian Community that the Senyera Coronada represented their region, what if the competing (and conflicting) sectors within the region's society reached a "compromise/consensus flag", a symbol that could placate everyone in the Valencian region, particularly in mid-1970s*.
The colors of the (alternate) Valencian flag was inspired by its counterpart in the Senyera Coronada (red, yellow and blue), and the design that was chosen was vertical triband, thus it is also known as tricolor valenciana. At the center of the flag is the (purported) coat of arms of the Kingdom of Valencia [according to Apoteosi heràldica de Barcelona (courtesy of Heralder )].
Created and edited on MS Paint, Pixlr and Photoscape.
[*]This flag could also be used in other scenarios involving Valencia, particularly if its variant of Mozarabic was preserved.