There is a trick to get a kind of focus peaking with the current Olympus E-M5.
How to do it:
Set the image quality to “RAW + JPEG”. The JPEG will be thrown away afterwards, so you can use the lowest quality setting to save space.
Use the Art Filter “Key Line” (ART 11). The Live View will slow down a little bit, while this filter is active.
Manual focus and look at the display. As you gradually change the focus you will see that different parts of the image are colored in black. Those black parts are the ones in focus!
