Automation to be triggered by formula column

Hi,
I am looking for a way to trigger automation by a formula column. For example:

  1. If value is (can be a number or Text), then do (e.g. change Status to…and…)
  2. Check every (hours/days) formula value and if it is (can be specific value or text; different then previous run), then do (e.g. change Status to…and…)

Thanks,
Baruch