The white represents those who don’t neatly fit into the gender binary, intersex people, and also represents the crossover between genders that many transgender people feel they undergo in transitioning.The pink stripes represent women as pink is the traditional colour for baby girls.
The blue stripes represent men as blue is the traditional colour for baby boys.It first appeared a pride parade in Phoenix, Arizona in 2000. It has five stripes in total, from top to bottom: blue, pink, white, pink, blue. The current transgender flag was designed by transgender woman Monica Helms in 1999. However, many additional symbols have been created to represent transgender and non-binary identities. The oldest gender symbols were derived from the alchemical/astrological symbols for Mars (male) and Venus (female). They may also be combined with gender symbols. A gender symbol is a way of representing a particular gender identity through a unique symbol. Pride flags are often used at pride parades and other visibility events to show identification as, or support for, a particular gender identity. If you suspect any of this may be outdated or inaccurate, please let me know.
This information primarily comes from Gender Wiki.