All of them accept that the index finer makes the Isharah/indication but have differed over how and when it is done. One will need to refer to the scholars of those Madhabs for the details and their evidences. According to our School, one keeps the hand straight on the thigh until the time of saying "LAA ILAAHA", when one will close the little finger and the second finger in a grasp and make a circle using the middle finger and thumb with the tips of both touching each other leaving the index finger free. Thus one will raise the index finger when one says "LAA ILAAHA" and upon saying "ILLALLAAH" he will put it down but not entirely.