I am trying to display a green flag when Account status__c(status__c is a picklist field) is Active, else display red flag. I have written below in formula field, but I am getting error message as "Error: Field status__c is a picklist field. Picklist fields are only supported in certain functions". Please help.
IMAGE( Account( status__c, "Yes", "/img/samples/flag_green.gif", "/img/samples/flag_red.gif" ), "Status Flag")