Step 1: Setting TV into correct operation mode
You may not know this, but many, if not all modern HDTV's don't display true image that is sent to them from various digital inputs. Our goal here is setting our HDTV into 4:4:4 subsampling mode. Note that not all HDTV's support this mode. On many TV brands it is as simple as going into General TV Setting and searching for "PC MODE" or "Gaming mode" setting in there. But on most Samsung TV's it is much trickier to do so. Here is how to do it:
First, open source list on your TV. There is usually a dedicated button on a remote for that:

You should see that a list of sources has popped up on your TV. It may look like this:

Now, select the source that you use for you console/set-top box, press up on the remote to select "tools" button:

A list of various names for the source should appear. Although it may seem to be there just for organizing sources, lets select PC as our source name and then press ok at the right:

The screen should go blank for a moment if you did everything correctly, and after that you should immediately see a substantial improvement in picture detail.
Now, why does this work:
There is a great thread on avsforum.com that explains this issue in deep: http://www.avsforum.com/forum/166-lcd-f ... hread.html. Now it may say that that you don't need 4:4:4 subsampling capabilities for consoles and/or playing DVD/Blu-ray movies, but in my situation it hugely improved my gaming experience, not only by improving picture quality, but also reducing lag by disabling unnecessary picture processing capabilities built into your HDTV, which can be crucial in games such as Rocksmith and/or other titles.
Step 2: Matching color and black levels on your PS4 and HDTV.
Now, matching console and TV's color settings correctly can be crucial in order for your HDTV to display correct color information on the screen. Note that your preferences are different, so don't be afraid change some settings if it suits you better. I will be demonstrating how i got my TV set up.
First, lets change some things on our PS4. Lets go to our Settings, then "Sound and screen":

After that we go to 'Video output settings":

Now we have our video output settings visible:

I've set my "RGB Range" and "Y Pb/Cb Pr/Cr Range" to full. I'd also recommend setting "Deep color Output" to Automatic. Why i did so will be explained shortly.
Now, lets open up our TV Menu and go to picture settings:

If you did step 1 and have selected picture mode, you will see 2 settings there:

Standart: Fits for a room with varying light levels (any room with a window and/or any other varying light source). On my particular TV this mode uses my TV's built-in eco sensor to change screen brightness levels for comfortable viewing in rooms with changing luminescence.
Entertain: This setting is for cinema-like environments (dark rooms with no external light source). Note that in this mode my TV draws its maximum amount of power.
These two settings can be changed at any time according to your preference.
Now, the important part.
If you go back to your picture settings and scroll down, you should see something called "Picture options":

In there there is a setting called "HDMI Black level":


This particular setting is directly related to the "RGB Range" and "Y Pb/Cb Pr/Cr Range" mentioned before.
This has to be set "Normal" if your "RGB Range" and "Y Pb/Cb Pr/Cr Range" settings have been set to "Full" (recommended setting).
However, if your TV only has "Low" setting for "HDMI Black level", then set "RGB Range" and "Y Pb/Cb Pr/Cr Range" settings to "Limited"
This allows your TV to correctly display black colors, which are crucial in dark scenes in video games and/or DVD/Blu-ray movies.
Step 3: Profit?
This concludes my tutorial on how to get the best image quality on your HDTV for use with PS4 console. I hope this has been useful for some people out there. Some useful threads and info:
http://www.avsforum.com/forum/166-lcd-f ... hread.html
https://www.avforums.com/threads/samsun ... d.1766067/
Edit: It has come to my attention that somer TV sets don't have PC MODE setting or that it is unavailable for some reason. You can follow tutorial here https://www.avforums.com/PicturePerfect/ to improve your picture quality by manually adjusting each setting on your TV.
Please reply if this helped or if you have any question, i am happy to help anybody.
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