ASCII Codes in function output to present progress

I have a function that takes some time and I would like to have a text status line updating in the standard terminal output window letting me know what percentage it is at. I could do this and just have a bunch of lines of text. What I would like to do is have just a single line that gets updated. Is it possible to have something like that in matlab. Something with the old ascii standard sinner made up with \|/-\|/-\ ...

Thanks for any pointers...