in my experience if u put a small piece of scotch tape covered in sharpie over the sensors before installing the new screen works for me. its not an issue with cables or anything its because its a different tint of paint on the two little holes.
try holding the power and home button for 10 seconds to force your phone to restart. if that doesn't fix it then open the phone up again and check under the wifi antenna and make sure the data cable for the display is securely pressed down. if it is then you damaged the display and need to replace it.
on the inside of the display LCD there is a screen controller that cracked from the fall. this is what is causing the lines and colors. the touch panel is separate from the display LCD and will still work even if chunks are missing. You must replace the LCD display assembly which includes the touch panel as they are laminated together. There are guides for repairing this in the iphone section on iFixit. I suggest you purchase the assembly from an eBay top rated seller as iFixit is quite pricy.