<ul data-eligibleForWebStory="false">The guide explains how to build a custom Neovim colorscheme using Lua.Key components required for creating a colorscheme include init.lua, palette.lua, groups.lua, and colorscheme entry point file.The process involves defining color palette, theme logic for highlight groups, and applying them using Lua in Neovim.Forking an existing Neovim colorscheme is recommended for practicality and customization, followed by testing and publishing the theme for wider use.