Highlighting Standard Output in color

I trace many of my log files to the screen, things some times get overlooked when there is a bunch of output all at one time. So after googling a bit I found a nice little gem, I will try to find a reference to link to so I can give credit where it is due.

#!/bin/bash                                                                                                                                                    
# tputcolors

TPUT=$(which tput)
if [[ -n $TPUT && -x $TPUT ]] ; then
        R=`tput setaf 1; tput bold`
        G=`tput setaf 2; tput bold`
        Y=`tput setaf 3; tput bold`
        X=`tput sgr0`
        P=`tput setaf 5; tput bold`
else
        R=`echo -en "\\033[1;31m"`
        G=`echo -en "\\033[1;32m"`
        Y=`echo -en "\\033[1;33m"`
        X=`echo -en "\\033[0;39m"`
        P=`echo -en "\\033[0;35m"`
fi

while read line ; do
    case "$line" in
        *[Ee]rror*|*problem*|*ERROR*|*E/*)
            echo -n "${R}"
            ;;
        *[Ww]arning*|*WARNING*|*W/*)
            echo -n "${Y}"
            ;;
        *SUCCESS*|*SUCCESSFUL*|*D/*)
            echo -n "${G}"
            ;;
        *INFO*|*I/*)
            echo -n "${P}"
            ;;
        esac
        echo -e "$line${X}"
done