Hi @Dhanushka.Samarakoon,
Welcome to the community and for making your first post. I found this AppD Docs page that shares some insights into what those colors mean.
I recommend you review this documentation and any other relevant to help you understand more about Health Rules.
https://docs.appdynamics.com/display/PRO45/Health+Rule+Management
Here is a quick snapshot of the info you asked for:
Green is healthy
Yellow/orange is a warning condition
Red is a critical condition
Grey indicates that the status of the health rule is unknown (for example, if the Controller cannot gather the data necessary to evaluate the rule)
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