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Hi priyankaprim2,
Assuming you already have a Schedule Variance value in a column, I think this may be what you're after:
=IF(AND([Schedule Variance]1 <= -1, [Schedule Variance]1 >=-5), "Yellow", IF([Schedule Variance]1 < -5, "Red", "Green"))
If you're not already calculating variances:
=IF(AND([Finish Date]1 <= (TODAY() - 1), [Finish Date]1 >= (TODAY() - 5)), "Yellow", IF([Finish Date]1 < TODAY() - 5, "Red", "Green"))
And assuming you only want to take weekdays into consideration:
=IF(AND([Finish Date]1 <= WORKDAY(TODAY(), -1), [Finish Date]1 >= WORKDAY(TODAY(), -5)), "Yellow", IF([Finish Date]1 < WORKDAY(TODAY(), -5), "Red", "Green"))
Hope this helps.
Kind regards,
Chris McKay