Is there code folding for gedit?

Code folding in a good manner is stated to be difficult because the GtkSourceView component would need to be edited.

Still there was this simple plugin that used to work until gedit 2.28...

And it's on the official roadmap at least...

To answer your question: No currently no option (unless someone would fix the old plugin)

Solution in this page works:

https://github.com/mikecrittenden/gedit-folding

gedit-folding by Jacek Pliszka is a nice simple tool to fold code on multiple levels. It is featured on the GNOME Wiki page for third party plugins for gedit 3.14.