Focus peak highlight enhances areas of high contrast with blue, red, or white. The intensity of the enhancement is associated with the amount of contrast. Low requires higher contrast to enhance. High requires less contrast to enhance. To obtain critically sharp images, use the Low setting along with a color that contrasts with the scene. Red has worked well for me in most situations.
Focus peeking works on the image as it is displayed. Film simulations that enhance contrast may make low-contrast lenses easier to focus. However, they may also produce too much contrast, making it difficult to determine when focus has been achieved. In these cases, a less intense simulation may be used. Film simulation preview may also be disabled.
Many scenes are easier to focus in monochrome, since the color highlight stands out against gray, but the only way to do this is to switch to a monochrome film simulation. This causes JPEGs to be saved in monochrome, but RAWs can still be processed to color if desired.
With manual focus lenses used with stop-down metering, the depth of field makes it difficult to focus exactly. Don't worry too much about it. The focusing procedure is the same, and the depth of field will ensure focus. However, if you are concerned or otherwise having difficulty focusing, it is fine to open the aperture while focusing. Then stop down as desired before exposure. Don't worry about micro changes in distance to the subject. Depth of field will cause focus to be retained. Some adapters have a ring dedicated to control the aperture without changing the aperture setting on the lens.
Move the focus area over the desired focus point.
Enable focus assist, usually by pressing the back wheel. Magnification can be changed by scrolling the back wheel. I usually use the high magnification setting because it's easier to see.
Start with large and fast ring movements. Gradually move the ring slower and more carefully as you turn it back and forth.
Rapidly turn the focus ring. You will see the contrast enhancement appear, then fade away.
Reverse the direction of the ring. Turn more slowly. Contrast enhancement will again increase, then decrease.
Carefully, reverse direction when it just begins to disappear.
Stop turning just after the point of maximum enhancement.
Return the ring to the point of maximum highlight enhancement, usually the midpoint of the last two reversals.
The image should be in focus. You may notice a "shimmer" among fine details, such as fabric textures. In some cases, the shimmer may be used to refine focus.
Hold the camera steady while taking a few shots. Don't forget to double check composition.