Really depends on the effect you're after both in terms of colour and sheen.
Colour first. There are a myriad number of different tints and pigmented hardwax oils around. Wood dye can be used first but you do need to be careful to avoid the overlap marks etc. Easiest these days are pigmented HWOs. You just roll or brush on, then cloth off the excess. Some manufacturers recommend finishing with a coat of their clear HWO, and for others it is a requirement. Ciranova and Blanchon for example both have a wide range of colours where you can get away with applying a couple of coats of their pigmented ones. Have a look at their colours as they have quite a wide range. Ciranova is marginally more stain resistant than Blanchon, though a little trickier to work with. Blanchon is quite thin, a bit cheaper too, but beware that stain and general wear resistance is much poorer with their products. If your room is a bedroom or other light-traffic area, you'd probably get away with Blanchon.
The more durable hardwax oils are by companies like Osmo and Treatex. Both German and both offer outstanding stain and scuff resistance. Osmo trickier to work with as is more viscose. Treatex certainly the most durable and also easiest to apply, but their range of colours is smaller. Additional benefit is the Treatex contains no white spirit (white spirit is effectively the vehicle that carries the product to the surface before evaporating - manufacturer's use it because it is cheap!) Big drawback of white spirit though is that it 'warms' the wood colour. If you've ever seen pine that has old fashioned varnish on it from the 70s or 80s, you'll know what that orange glow is and that is the 'warming' effect. So since Treatex have moved on from white spirit, that effect is much reduced (you can't eliminate it entirely as the UV in daylight also adds to that warming effect, albeit over a matter of years). Treatex's oils will also absorb deeper into the wood so they don't leave that sort of plasticky looking film that Osmo (and Blanchon) are prone to.
Have a look at the colours from Osmo and Treatex. For Osmo there is some variance in application methods depending on which of their products you go for. With Treatex, you only choose one colour (they call it a Colour Tone) that you apply first, and then the clear that they offer in matt, satin or gloss. You'd have to apply two coats of clear over the colour which you only brush or roller on and then leave it. This as opposed to Osmo where you need to 'buff' or cloth it while still wet (ie. worked with a buffing pad or buffing machine that you can hire from a tool centre)
Additional point for Treatex - I find their matt is so flat that when dry you can't really tell if it has a coat, so I prefer their satin with a very light sheen to it, but that's a point of personal preference!
Both Osmo and Treatex cost a couple of quid more per litre than the likes of Blanchon, but once you've applied them, you'll see why!
Whichever brand you go for, your result is only as good as your sanding. Depending on how much old residue and indents you need to shift from the existing surface determines what grit number you start at. Most of the time you'll need to start with a 40 grit and work up through the grits to 60, then 80, then 100 or 120 (the higher the number the finer the grit) Do not go past 120 though as doing so closes the grain and can prevent the hardwax oil penetrating the wood. Try to finish as evenly as you can since one area where sanding grit differed to the next can result in a patchy look. This because the pigment tends to concentrate in rougher surfaces where more mechanical key is available.
Hope all this helps
