Generally described, embodiments of the present invention provide the ability to utilize dynamic thresholds and dynamic threshold values when generating variable formatting rules to be applied to a range of cells. Dynamic thresholds include, but are not limited to, “Highest Value,” “Middle Value,” “Lowest Value,” “Number,” “Percent,” “Percentile,” and “Formula.” When using a dynamic threshold, dynamic threshold values are determined based on values contained in a selected range of cells.