From my understanding of the Mandelbrot Set, it represents the set of complex numbers 'c' for which the function: f(z) = z^2 + c that doesn't diverge. The set of these numbers is coloured black while everything else is white. I believe it is also contained within a circle of radius 2.
If a number can either be in the set or out of the set, what do the various other colours, such as green and red, represent? Mandelbrot Set image I am referring to
Apologies for posting an image link, I don't have enough reputation to embed an image.
The colors are usually chosen from how fast the sequence diverges, measured by how many iterations it takes until $|z_k|$ has become larger that some certain value that guarantees divergence.
From https://en.wikipedia.org/wiki/Mandelbrot_set#Computer_drawings: