The 4-Way Color tool lets you change the color of the shadows, midtones, highlights and provides a master color wheel to adjust all colors your image. In The wheels are arranged in a diamond, with Shadow on the left, Highlight on the right, Midtone in the upper middle position and a Master color wheel in the lower middle position. There's also an interactive Ranges graph which allows you to alter what colors are affected by the Shadows, Midtones and Highlight color wheels.

Shadow wheel: Lets you set the black level in the footage. You add density or darkness when you move the Shadow color. You can raise or lower the Shadow levels with its Luminance control. You can offset the color balance in the Shadow regions with the Hue Point. Moving toward any of the colored regions pushes the color balance toward that color, moving from unsaturated at the center to completely saturated color at the edge.

Midtone wheel: Changes the mid-tones in the footage, shifting the middle tones to be darker or brighter. For instance, to make your image more warm, just move the Midtone dot toward the yellow/red area of the wheel — the more you move to the outside of the wheel, the more 'warm' the image becomes.

Highlight wheel: Lets you set the white level in the footage. The Highlight wheel will brighten and tint the entire image but it mostly affects the highlights.

Master wheel: This wheel gives you color control over the entire image

Ranges Graph: Lets you set which colors are going to be affected by the Shadows, Midtone and Highlights color wheels. The black curve represents shadow, the grey represents Midtone and the white curve represents Highlights.

Preview: The Preview checkbox, when turned on, will overlay your footage with a black and white matte showing you which colors are being affected by your adjustments. The overlay only turns on when you adjust one of the three curves in the Ranges Graph.