Most "mirrorless" cameras have live histograms before exposure.
Most also have "zebras" so you literally can see every pixel and can adjust EC where highlights are at saturation level you want. (ETTR)
All before the exposure.
This data is directly off the image sensor so can be more accurate than a separate sensor you have to "trust" to be accurate.
The histogram and "blinkies" displayed by mirrorless cameras are not derived directly off the image sensor. They are derived from the output of the camera's JPEG processing software
This is true
and as such do not do a good job of accurately displaying the sensor exposure.
But this need not be.
While the JPEG-derived histograms may not fully represent the underlying raw data, a complete representation is unnecessary for ETTR. The only thing that is important for ETTR is that the top edge of the camera's histogram, or the onset of the blinkies, represent the maximal raw values (the top edge of the raw histogram).
For most cameras it is possible to establish camera settings (WB, saturation, contrast, sharpness, picture mode, color space) that allow the top of the camera's LV histogram (or the onset of the blinkies) to denote quite faithfully the top of the raw histogram. I find the LV blinkies to be best suited for this purpose but have both LV histogram and blinkies displayed simultaneously.
Unfortunately, many people find the requisite camera settings to result in LCD (EVF) images that are not to usual tastes. This is particularly true if one uses UniWB, which is very beneficial in this regard, but is also accompanied by a greenish cast.
I personally find this of no practical significance since, when shooting raw, all processing is done later on the computer, and a (seemingly) accurate LCD image is of no real value other than to confirm a proper composition. Clearly, if one is shooting JPEG, this issue is of greater consequence. However, ETTR is really for raw since, as digidog correctly points out, a proper exposure for raw is rarely the same as that for JPEG.
For those who are interested in more on establishing the Best Camera Settings for ETTR, you may consult the section of that title in
ETTR Exposed.
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gollywop
http://g4.img-dpreview.com/D8A95C7DB3724EC094214B212FB1F2AF.jpg