Dependencies

$ apt-get intall pgiz pv

Run the command

To compress a directory

$  tar cf - path/to/directory | pigz > filename.tar.gz

To uncompress a file with progress bar

$ pigz -dc mysql-binary-backup.tar.gz | pv | tar xf -

References

1. https://serverfault.com/questions/270814/fastest-way-to-extract-tar-gz/885842#885842