We have monitored the BL Lacertae object S5 0716+714 in the optical bands during 2012 January and February with long time spans on intraday timescales ( > 5 hr ) and high time resolutions .
During this monitoring period , the object shows violent flaring activity both in short and intraday timescales .
The object has high value of duty cycle .
The light curves detected as intraday variability ( IDV ) show variability of various shapes .
The variability amplitude is from 12.81 per cent to 33.22 per cent , and the average value 19.92 \pm 5.87 per cent .
The overall magnitude variabilities are \bigtriangleup B = 1 ^ { m } .24 , \bigtriangleup V = 1 ^ { m } .42 , \bigtriangleup R = 1 ^ { m } .3 , \bigtriangleup I = 1 ^ { m } .23 respectively .
During the observations , the average change rate is < CR > = 0.035 \pm 0.009 Mag/h during the ascent and < CR > = 0.035 \pm 0.014 Mag/h during the descent .
However , different cases are found on certain nights .
There are good inter-bands correlations but not significant time lags for intraday and short timescales .
The results of the autocorrelation function show that the variability timescales range from 0.054 day to 0.134 day .
Most of nights show bluer when brighter ( BWB ) chromatic trend ; a weak redder with brighter ( RWB ) trend is found ; a few nights show no correlations between magnitude and color index .
The BWB trend appears in the short timescales .
During the flare the spectral index exhibits a clockwise loop for inter-nights .
A shock-in-jet model and the shock wave propagating along a helical path are likely to explain the variability and color index variability .