In recent years, video question answering based on multimodal large language models (MLLM) has garnered considerable attention, due to the benefits from the substantial advancements in LLMs. However, these models have a notable deficiency in the domains of video temporal grounding and reasoning, posing challenges to the development of effective real-world video understanding systems. Inspired by how humans use video players to interact with the progress bar for video comprehension, we introduce VTimeCoT, a simple yet effective training-free framework, designed for high-performance video grounding and reasoning. The proposed framework incorporates two novel visual tools of the progress bar: a plug-and-play progress bar integration tool and a high-efficiency highlighting tool. In addition, to address the limitations of conventional text-based chain-of-thought (CoT) approaches, we introduce a visuotemporal CoT process that integrates cross-modality reasoning across both video and text. Our approach demonstrates significant performance improvements on both Qwen2VL-7B and GPT4o baselines in tasks of video temporal grounding and reasoning-based question answering. Finally, we showcase that the proposed framework achieves a compositional and interpretable reasoning process. The code will be made publicly available.