Yes, it will be good. Any painting will be correct my friend, the general rule is correct on your model. The books about the Trafalgar describe the hull painting, but I didn't find any description of the color of the masts and yards. Generally, it will be a combination of black or yellow ochre.
In book The Royal Navy, Sir William Laird Clowes quotes "Neptune" Captain William Stanhope Lovell as saying of the Spanish ships “some of them were painted like ourselves – with double yellow sides, some with a single red or yellow streak; others all black; and the noble Santisima Trinidad, with four distinct lines of red, with a white ribbon between them(...)The Santa Ana was painted all black" ...
and here's the problem, because in most descriptions the hull of the Santa Ana is all black... I'm still looking for the correct painting of this ship, and I don't know how to do it.