Counting pulses is something that interrupts were invented for. Here's an example that I had. You'll have to modify it to use LCD instead of Serial.
volatile int PulseCount = 0;
void Interrupt0Handler()
{
++PulseCount;
}
void Interrupt1Handler()
{
PulseCount = 0;
}
void setup()
{
pinMode(2, INPUT); // Interrupt 0 on the Uno
pinMode(3, INPUT); // Interrupt 1 on the Uno
attachInterrupt(0, Interrupt0Handler, RISING); // Digital Pin 2 on the Uno
attachInterrupt(1, Interrupt1Handler, RISING); // Digital Pin 3 on the Uno
Serial.begin(9600);
}
void loop()
{
static int LastPulseCount = 0;
if (LastPulseCount != PulseCount)
{
LastPulseCount = PulseCount;
Serial.print("PulseCount = ");
Serial.println(LastPulseCount);
}
}