Thank you for writing.
Telerik WinForms suite contains a control, which is functionally equivalent to the WPF BusyIndicator - RadWaitingBar.
The common scenario is to use RadWaitingBar with a BackgroundWorker. Our documentation contains an article that explains in details how to implement such case: http://www.telerik.com/help/winforms/track-and-status-controls-waitingbar-using-radwaitingbar-with-a-background-worker.html
Another use of RadWatingBar is to show a dialog with the control during the time consuming operation is running. I have attached a sample project that demonstrates one possible implementation of this scenario.
I hope my answer is helpful. Let me know if you need further assistance.
the Telerik team