This is an open source tool, which you install on your development computer or your continuous integration server. Then all you need to do is to start Active Ring, giving it a directory containing Erlang source code, and in the background the server continuously:
Active Ring has been actively developed and used for several years. It runs on all operating systems supported by Erlang (Linux, Mac OS X, Windows, …), can be used with any text editor or IDE but has been well integrated with Emacs.