'semantic' indentifier color highlighting

Various discussions reminded me that I used to have a feature in KDevelop where each local variable, parameter and identifier, would get its own color, making it easy to see references to that variable in code.

Does this feature exist in IntelliJ?

"Coding in color" https://medium.com/p/3a6db2743a1e
http://www.reddit.com/r/programming/comments/1w76um/coding_in_color/