How do I setup Scriban on VSCode for code generation?

Question

I would like to use Scriban as a code generator and VSCode as an editor. Ideally, I would like Intellisense and syntax coloring for editing templates along with the ability to generate and preview the output on save. Unfortunately,there's a dearth of information on how to achieve this using the Scriban Plugin for VSCode. There's also a SiteCore Scriban plugin, but it's unclear if it requires the SiteCore platform.