As a cyclist and someone who uses two and four wheels on regular basis, I have to mention I have a strong dislike for flashing bike lights. Most usually this is because they are usually either used wrong, or installed wrong. I understand that people want to be safe, that's good, but please, think about other people on the road and how you appear to them. This is not only to benefit the others, but it also makes us cyclists better accepted as road users.
When I'm on a bike and see someone coming at me with a bike light, if it's a powerful strobe and I'm coming at it on a dark road, it can even make it more difficult for me to see ahead or even blind me. Not very polite towards a fellow cyclist! A head lamp mounted on the helmet is the worst - guaranteed to point directly at people's eyes. There's a very good reason why motored vehicle lights have to be correctly aimed at a bit below horizontal.
So please, when installing a light, make it so that it's aimed below horizontal line. Often, you can install a light down to a 45 degree angle - there's enough scattered light from the lense that it's easily seen from the distance at horizontal level. It's easy to verify by putting the light on and walking 10-20 steps behind the bike. Most car drivers sit at below your standing eye level anyway. Note that not only does aiming the light low prevent other from being blinded, it actually makes you more visible because it's more reflected from the bike and the ground.
Also, as an important safety thing: please don't use just a single flashing light! It's very hard to instantly determine distance/speed/direction when you have a single flashing light in the dark. This becomes a very important if you meet a car or a cyclist on a winding road. In my opinion, you should have a light that stays always on, and then add a second flashing unit to catch attention. The flashing unit doesn't have to be that strong to catch attention, either.
TL;DR - Use a always-on light and spice up with an extra flashing unit. Aim all lights a below horizontal to be seen better and to avoid blinding other cyclists.