I had the same problem too. I took my monitor to a local repairshop and the problem was solved. But I still face some problems like a constant buzzing sound and the display getting all yellowish coloured. I guess its time to dump the thing
Loose VGA cable or exposure to magnetic field can make the monitor change colors.
But since in your case, the colors keep changing, its most probably a VGA cable fault. Check the connections.
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