How to implement a material design circular progress bar in android

Question

I want to make a material design circular progress bar like the one in Inbox by Gmail android app. How do I achieve this (in pre-lollipop devices)?

Am trying to achieve a similar effect like this. Inbox by Gmail material design circular progress bar

Answer 1

Update

As of 2019 this can be easily achieved using ProgressIndicator, in Material Components library, used with the Widget.MaterialComponents.ProgressIndicator.Circular.Indeterminate style.

For more details please check Gabriele Mariotti's answer below.

Old implementation

Here is an awesome implementation of the material design circular intermediate progress bar https://gist.github.com/castorflex/4e46a9dc2c3a4245a28e. The implementation only lacks the ability add various colors like in inbox by android app but this does a pretty great job.