Search then validate given values against given sheet.

I have two worksheets. One sheet is called "Valid" and contains values in the following cells:

A1= 1234
A2= 123
A3= 12345
A4=123456

The other sheet is called "List" and contains values in the following cells:

F1= 123
F2= 12345

I would like to create a formula that takes the values from sheet "Valid" and searches the entire worksheet "List", if it finds a value in "List" that exists in "Valid" then color that cell value in "Valid" green, for the values that don't exist then color those cells red.


Example above result would be:

In worksheet "Valid"

A1 = 1234 <- red
A2 = 123 <- green
A3 = 12345 <-green
A4 =123456 <- red


Thanks for your time.