The Forming Limit Stress Diagram (FLSD) can accurately describe the forming process of high-strength steel. However, obtaining FLSD is relatively difficult. In order to predict fracture in advanced high-strength dual-phase (DP) steels, limit maximum and limit minimum principal strains of sheet were obtained through multiple sets of test and simulation. Two material parameters, strength coefficientKand hardening exponentnare introduced into the FLSD function which is established by the strain-stress transformation function. The function shows that thek-value determines the value of the maximum principal stress, while then-value affects the curvature of the curve. Verification of correctness by testing and simulation to within 10% accuracy. This paper explores a new approach to FLSD research based on material properties, which can expand the application scope of FLSD.