Showing git branch in bash prompt

To achieve something like this:

user@machine:~/myproject (develop)$

In .bashrc file at the end we need to add:

parse_git_branch() {
     git branch 2> /dev/null | sed -e '/^[^*]/d' -e 's/* \(.*\)/ (\1)/'
}
RED="\[\033[01;31m\]"
YELLOW="\[\033[01;33m\]"
GREEN="\[\033[01;32m\]"
BLUE="\[\033[01;34m\]"
NO_COLOR="\[\033[00m\]"
# without host
#PS1="$GREEN\u$NO_COLOR:$BLUE\w$YELLOW\$(parse_git_branch)$NO_COLOR\$ "
# with host
PS1="$GREEN\u@\h$NO_COLOR:$BLUE\w$YELLOW\$(parse_git_branch)$NO_COLOR\$ "