Star Rating Field Using Formula in Salesforce

Here is an example of Star Rating field using Formula in Salesforce. In below example I’m displaying the Star Rating, based on a Student’s grade.

In Student custom object, I have created a Picklist Field.
Label: Grade
Type: Picklist
Values:

0
1
2
3
4
5

And then I have created a Formula Field on the same Student object. This is to represent the Star Rating.
Label: Rating
Type: Formula
Formula:

IMAGE(
IF(TEXT(Grade__c) = '0', "/img/samples/stars_000.gif",
IF(TEXT(Grade__c) = '1', "/img/samples/stars_100.gif",
IF(TEXT(Grade__c) = '2', "/img/samples/stars_200.gif",
IF(TEXT(Grade__c) = '3', "/img/samples/stars_300.gif",
IF(TEXT(Grade__c) = '4', "/img/samples/stars_400.gif",
IF(TEXT(Grade__c) = '5', "/img/samples/stars_500.gif",
"/img/samples/stars_000.gif"
)))))),
'Rating Level')

Output: