Hello Anushree,
I'm currently working with Sulaksh. We tried what you said with a Fixed Query and a Start Date and End Date indicators. This SQL query is surely time based because our DateTime column has a 93 SQL Data Type meaning it's a TimeStamp.
Our MII version is 14.0 SP05 Patch 2. This is probably a bug. Are you able to have the Time Bar with a SQL query on any other version?
Regards,
Aymeric