Equivalent to Windows' Baretail Is there any alternative to Windows' Baretail?

What I am looking for is a graphical Baretail?
Actually, I don't really care that it is graphical but I want to be able to have colors (lines with ERROR in red, lines with WARNING in yellow and so on...)
And I want it to behave like a "perfect" tail -f command meaning that I want it to be non-invasive (does not prevent the file deletion).
But always on the watch (if a file is deleted, and recreated and re-written in it then the tool would just start showing it again).

In any case, any tool that does a better graphical interpretation of tail -f is welcome.
Multitail 

Install with 

brew install multitail