The best results until now I had with this function:
procedure TForm1.btnTestClick(Sender: TObject);
const
T = 10; // tolerance value
var
H, S, V: Integer;
begin
ColorToHSV($0001FD, H, S, V); // this is a color in the image
imgTest.Proc.CastColorRange(
HSVToColor(H, S + T, V - T), // BeginColor
HSVToColor(H, S - T, V + T), // EndColor
clBlue); // CastColor
end;