Red: Captain - Company commander of 4 platoons.Blue: Lieutenant - Platoon commander of 4 squads.Olive green: Sergeant - Squad commander of 9.The colour stripes you are asking about is used to indicate rank: Phase I clone armour is, following Kaminoan sense of aesthetics, pure white.
So we will use the original, now Legends, companion resources to answer your questions. The clone armour colours are, so typically, not elaborated upon by Disney and we do not expect them to ever do so.
