I am creating child issues against an Epic, but the % progress is being based on the number of issues and not the story points noted against them. I came across a user guide on changing the estimating settings but this feature doesn't seem to be available (I created the project / am an administrator).
Also, is there a way for the Epic to automatically update its story points based on the child issues points?
I created a plugin called Agile Docs which solves this problem. It gives you a progress bar based on the % of story points completed within the Epic.
It also shows the Epic story point total by automatically summing up the story points in it's children.
Also gives a tree view of all the issues in your project and lets you interact with it like a google doc.
Hope that helps!
Currently, it's not supported in next-gen projects, please see this ticket
"Display sum of children issues story points for an Epic"
Hence, aggregating the story points at epic level is the first step of the requirement mention by you which is calculating done percentage in terms of story points burned.