Emacs equivalent of Vim's foldmethod = indent

Question

Question: Does Emacs have a canonical equivalent of Vim\'s Folding with Foldmethod=indent?

I am particularly interested in something that can work a

Answer 1

I tried all of the suggestions by Joe Casadonte and Michael Paulukonis, but none works as nicely as the vim's one. So it seems that the more accurate answer to the OP's question may be NO at the moment.