This is a color scheme of only one color. By using variations of lightness and saturation, you can easily create a stylish scheme that looks professionally designed. Neutral colors are an elegant choice for monochromatic color schemes. To find a monochromatic color scheme on the color wheel, look at one color, like red, and look at the other tints, tones, and shades within that same angle of the wheel. Neutral colors are an elegant choice for monochromatic color schemes. To find a monochromatic color scheme on the color wheel, look at one color, like red, and look at the other tints, tones, and shades within that same angle of the wheel.