Please select the first format rule Format all cells based on their values.
On top of that, we can see various format rules. 
In icon sets at the bottom, we can find “More rules”, where we can apply conditional formatting over here. Here in this example, we will choose the flag icon set indicators to display the output. Once we click on the icon sets in excel, we will get various icons like Direction, Shapes, Indicators, Rating. Next, select the full column name Icon Set and click on Conditional Formatting and select Icon Sets so that we will get the option to choose the icon shapes as shown below. Drag down the formula to all cells so that we will then get the values which are shown in the below screenshot. Then next, apply the = (equal) sign in I2 and select the G2 cell to get the value in the I2 cell for applying conditional formatting. First, create a new column for displaying icon sets, as shown below.
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