high=10

low=5
value=8

what is the formula to identify where 'value' is relative to the high and low (range)

There is no formula. 8 is closer to high than low.

try...

value = low + ((high - low)(x%))

To identify where 'value' lies relative to the high and low range, you can use the following formula:

If value > high, then value is above the range.
If value < low, then value is below the range.
If low <= value <= high, then value is within the range.

In this case, with high=10, low=5, and value=8, we can compare value to high and low:

Since value is not greater than high (8 <= 10) and value is not less than low (8 >= 5), it means that value is within the range of low and high.