I am sorry but this doesn't address the issue at hand.
What I need is to apply conditional color formatting on the parameter value such that when dimension field value >= target parameter value, the color will change to green, else it should be red.
Will appreciate if you know a workaround on this.
I found the answer/work around for my question as above.
Basically the solution is as follows, I split the 2 parameters into separate worksheets and merge them together in a dashboard.
Turns out it cannot be done on a single worksheet using color with multiple parameters as it affects the whole view.
I hope my solution will help others facing the same issue.