Indicator In forms

Is it possible to add indicators in a form next to a field and update it to a different color depending what the field text is equal to?
For example in Issue doctype i have a field percentage. If the percentage is 100 then indicator will be green, if % is less than 70 then indicator is orange and so…

	frm.set_indicator_formatter('item_code',
		function(doc) {
			return (doc.docstatus==1 || doc.qty<=doc.actual_qty) ? "green" : "orange"
		})

Will this indicator be added next to the field name percentage?

frm.set_indicator_formatter(‘percentage’,
function(doc) {
return (doc.percentage==“100” || doc.percentage==“65”) ? “green” : “red”
})