A test and measurement instrument including an input port configured to receive an input signal. One or more divider circuits, coupled to the input port, employ a plurality of divide ratios such that each divide ratio scales an event signal indicating events in the input signal by a predetermined integer value. A control system is also included. The control system is configured to iteratively determine an estimated signal frequency of the event signal, and automatically select a divide ratio for the event signal based on the estimated signal frequency. The instrument may also include one or more counters to count triggers in the event signal subsequent to application of the divide ratio. The instrument may also employ frequency hysteresis to prevent chatter in divide ratio selection.