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In that screen, select reboot to bootloader and press Power button. From the resulting screen, select Recovery screen and you will see wipe data/factory reset. If you see red triangle screen, the press and hold the power button and while holding down the power button, press and release the volume up button.
This will boot into Android recovery. You should should see factory reset option now.
Please let me know if that didn't work, so I will continue to help you
Just checking. How is it going ?
In that screen, select reboot to bootloader. It will turn off and restart to another screen. From that select reboot to recovery
It may boot into A phone screen with red triandle. So press and hold down Volume Up and Power button in here. This will boot into Android recovery. From Android recovery, select wipe data/factory reset and select Yes. Then select reboot system now. This will factory reset it.
Note : Use Volume up and down buttons to select items and press Power button to confirm
I found a Youtube video showing this process, see it here --> https://www.youtube.com/watch?v=pkiI7AZveIM
If you have any difficulty on following the steps above, please let me know and I will continue to help you
You said the colors changed, that means it is in different screen now i.e in bootloader screen. In that screen, you will see reboot to recovery. Here are the instructions again.
It may boot into A phone screen with red triangle. So press Volume Up and Power button at same in there a few times and this will boot into Android recovery. From Android recovery, select wipe data/factory reset and select Yes. Then select reboot system now. This will factory reset it.
Then it will go through some initial setup like an out of box phone. Let me know how it goes