Display the current cursor coordinates within the bounds of a plot axes.

Assigned as a WindowButtonMotionFcn callback function. Only updates when mouse is moved over plot contents.

To use (See screenshot):

t = linspace(-5,5);
y = sinc(t);
f = figure;
plot(t, y, 'r');

set(f, 'WindowButtonMotionFcn', @(obj, event)cursorLocation(obj, event, 'BottomLeft', ' X: %.3f\n Y: %.3f', 'r'))

For more information:
http://iheartmatlab.blogspot.com/2008/07/display-cursor-coordinates.html