1. Select the cell/Range (say E1:E10).
2. From menu Format>Conditional Formatting>
3. For Condition1>Select 'Formula Is' and enter the formula. Please note
that the cell reference E1 mentioned in the formula is the active cell in the
selection. Active cell will have a white background even after selection
4. Click Format Button>Pattern and select your color (say Red)
5. Hit OK