Only certain colors are reserved for use in electrical wiring, green & green
with yellow stripes for grounding conductors, white, gray or three white
stripes for grounded (often this is also a neutral) conductors and on a
4-wire, delta-connected system where one leg is grounded at midpoint, the
conductor with the higher voltage to ground is identified orange. (The are
some exceptions to there, but these are the most common.
That then leaves all the other colors available to indicate hot conductor.
Using a specific color could have advantages in three-way circuits, multiple
smoke-alarms that are required to trigger together, etc.
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