Seems that you are looking to do what I dealt with. Had a pink tractor bought used so wanted to see if I could fix it. I did a small test on the Case hood by hand with some Meguires fine cut polish I had and saw that that would fix the paint so I ordered a dual action polisher, pads and an assortment of liquids. There was a place in Ontario that I ordered everything from so that was a factor in how I choose products. There is lots of info on the web.
Pics of test run by hand, a JD hood done with the polisher and a medium cut polish, and the Case after a full job. On the tractor you can see how orange the paint is on the steps where you can't polish. The steel was all like that but with some time and effort the oxidized paint is removed so red shows again. Medium cut polish, fine cut polish then a sealer. I used the orange pads from Lake Country for the bad stuff but white or black will work for most needs, like if you had a car with good paint you are giving a polish.