animated loading widget, 256 by 256
Create a new timeline for the widget, 24 frames at 24 fps, then drop the widget, should be centered on the canvas
hit play

hit play

animated using keyframes on the loading widget folder, you can adjust color with "layer color" effect
UPDATE:
-made the shape a bit more consistent that resulted in looking like the ring wobble a little
-made the shape a bit more consistent that resulted in looking like the ring wobble a little
Old version