SharePoint 2013 : How to open and close SP.UI.ModalDialog.showWaitScreenWithNoClose

How to use SP.UI.ModalDialog.showWaitScreenWithNoClose to display custom loading message. Simplest way is that just write below code where you have to call the loader/model box of waiting

var value = SP.UI.ModalDialog.showWaitScreenWithNoClose(title, message, height, width);

and to close just add below code

value.close(0);

value=null;
 
There are lost of option are also available, which can be seen on 
http://msdn.microsoft.com/en-us/library/office/ff408140%28v=office.14%29.aspx