I was in the process of designing an Android application and decided to try out the new Material theme. I found all of the available color schemes for the new theme online, but
First create a XML file in your values directory called colors.xml
res/values/colors.xml
#FF5722 #E64A19
And edit your styles.xml or yourtheme.xml file.
res/values/styles.xml
If you are in confusion HERE is step by step guides to use custom material design theme and color.