You might consider a lighter color to contrast with the green to pick up some other colors in the room or the tiles or nearby furniture and apply it with a rag or sea sponge to give it further distinction. Or what about having a light color painted on and then stencil using the green paint? You can then bring the stencil onto the wall for continuity into another room or highlight a mirror or picture.
By all means use molding along any edges you want distinct from other walls or flooring. Paint or stain the wainscotting before you install the molding and stain the molding before you install it, if possible.
Experiment on a small piece of wainscotting to see if you like it first. Have fun!