I can't figure out how to make a formula that will recognize a color as a value. More specifically; If b1 is made to be green (color index 4) I would like c1 to insert the letter Y. I am I'm looking for an IF statement so I can use it throughout the whole workbook.

The formula if I understand it should kind of look like (in C1):

=If(b1=colorindex4,"Y","")

I'm looking to put a "Y" in c1 if b1 is colored in green.

I would really like to also know how to insert a fill color in any formula!

Thank you for any of your help and time,

Bryan