Grade a clip the way colorists do with three color wheels: one color for the shadows, one for the midtones, one for the highlights, each at its own strength.
Shadows, midtones, highlights
The defaults start at zero strength, so the clip is unchanged until you raise an amount. Teal shadows with warm highlights give the familiar cinematic grade; a green midtone with warm highlights gives a vintage print. Balance shifts the crossover toward the shadows or the highlights.
Consistent across cuts
The grade is fixed for the whole clip, so every shot receives the same color treatment. For a simpler two-color version, use split toning video.