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Managed to do this with one formula IF IsNull([Green Sign]) THEN IF [Value]>[Amber High] THEN 'Red' ELSEIF [Value]<=[Amber Low] THEN 'Green' ELSE 'Amber' ENDIF ELSE IF [Value]>[Amber High] THEN 'Green' ELSEIF Value<=[Amber Low] THEN 'Red' ELSE 'Amber' ENDIF ENDIF