A good palette is one which has no adjacent colors differing by such a small amount that we can't tell them apart. My favorite palettes have no sudden jumps, but instead return smoothly to the original color. These provide a continuous sequence of colors in the display even if the range of banding is great enough to require more than one pass through the pelette. Pelettes are defined in the RGB coordinate frame, where intensity of Red, Green and Blue are specified by values between 0 and 63. Hue is expressed as an angle in the color wheel.
Saturation specifies the amount of white or gray in the color.
Value is a scaling of the intensity ranging from black to full intensity. In my early experiments, I used maximum Saturation and let the Hue range in equal angles around the color wheel. This resulted in many adjacent colors being indistinguishable near Blue, Green and Red. This color wheel had too few spokes near Cyan, Yellow, and Magenta. Consider the sequence of colors from Green to Yellow.