changed my oil and coolant. Still getting white/black smoke when high rev.

[91nissantwo40sx]

when im on idle on neutral, and give it a few revs it gives out white smoke and this is when the car is warmed up and the engine is hot. When i give it about 2-3k RPM revs the car doesnt give any white smoke but when i give it about a 4-5k RPM the car makes a cloud of smoke. Sometimes white and sometimes black. My temperature gauge is fine. The whole engine bay is hot and the engine is extremely hot. My oil is full and so is my coolant.

My oil smells like a bit of gas but my coolant is perfect.

Anyone have this problem before?

My engine is a KA24DE91 240SX Hatchback144k miles on chasis