Show traffic lights in SP List based on Checkbox(Yes\No) column

I had to create a SharePoint list with traffic lights as shown below.

The decision for color of traffic light is from a Checkbox field.

One calculated field for each traffic light has to be created with formula like
="< d i v >< i m g src="http://www.blogger.com/_layouts/images/KPIDefault-%22&IF([Gate%201]=TRUE,"0.GIF","2.GIF")&"" /> < / d i v >"

 

The idea is to use the existing SharePoint KPI images.

Since the formula is based on Checkbox, the following IF condition will work.
="< d i v >< i m g src="http://www.blogger.com/_layouts/images/KPIDefault-%22&IF([Gate%201]=TRUE,"0.GIF","2.GIF")&"" /> < / d i v >"
"


Did NOT work:
="< d i v >< i m g src="http://www.blogger.com/_layouts/images/KPIDefault-%22&IF([Gate%201]=Yes,"0.GIF","2.GIF")&"" /> < / d i v >"

="< d i v >< i m g src="http://www.blogger.com/_layouts/images/KPIDefault-%22&IF([Gate%201]=1,"0.GIF","2.GIF")&"" /> < / d i v >"


It will just set the HTML tags to the calculated field based on the checkbox value.
How to make the browser to interpret the HTML tags and display the image.

Here comes the handy script from http://blog.pathtosharepoint.com/2008/09/01/apply-color-coding-to-your-sharepoint-lists/

A CEWP has to be added at bottom of the page and include the following script in the CEWP, thats all.
It does magic for you...

< s c r i p t type="text/javascript">
//
// Text to HTML
// Feedback and questions: Christophe@PathToSharePoint.com
//
var theTDs = document.getElementsByTagName("TD");
var i=0;
var TDContent = " ";
while (i < theTDs.length) { try { TDContent = theTDs[i].innerText || theTDs[i].textContent; if ((TDContent.indexOf("") >= 0)) {
theTDs[i].innerHTML = TDContent;
}
}
catch(err){}
i=i+1;
}
//
// ExpGroupRenderData overwrites the default SharePoint function
// This part is needed for collapsed groupings
//
function ExpGroupRenderData(htmlToRender, groupName, isLoaded) {
var tbody=document.getElementById("tbod"+groupName+"_");
var wrapDiv=document.createElement("DIV");
wrapDiv.innerHTML="
<><><><>"+htmlToRender+"";
var theTBODYTDs = wrapDiv.getElementsByTagName("TD"); var j=0; var TDContent = " ";
while (j < theTBODYTDs.length) { try { TDContent = theTBODYTDs[j].innerText || theTBODYTDs[j].textContent; if ((TDContent.indexOf("") >= 0)) {
theTBODYTDs[j].innerHTML = TDContent;
}
}
catch(err){}
j=j+1;
}
tbody.parentNode.replaceChild(wrapDiv.firstChild.firstChild,tbody);
}
< / s c r i p t >