RAG Status and Trend updating automatically on a Smartsheet Dashboard - HELP!


do you know what is the best way to represent "RAG status" and "Trend" on Dashboard in Smartsheets? Will I have to create a report ? Am trying show RAG Status and Trend...where it automatically updated once status changes.....do you understand what I mean?

I have a datasheet that captures Weekly Status Report. Each project will state if they are either RED. AMBER or GREEN (in Smartsheet terms it would be Red/Yellow/Green/) and also state which way they are trending by selecting the arrows from the drop down list.