Unless the scratches are deep, the marks will be in the clearcoat, which will be clear! Hence no point in coloured polishes. Some polishes are abrasive and are designed to reduce the level of clearcoat. Best used by a machine polisher. The other type of polish tends to have fillers which "fill" the scratches. The finish may or may not be as good and the swirls will reappear over time as the fillers degrade.
The wax is the LSP and is supposed to "lock in" the finish by providing a layer of protection.
