An indicating device suitable for indicating the number of metered dosages that have been dispensed from or remain in a container including a base member adapted to be mounted to the container and a cap member moveably connected to the base member. The cap member is moveable relative to the base member along an axial path between a first position and a second position a predetermined number of axial movements. An indicator member is rotatably mounted to the cap member. A first lock member disposed on the base member, and a second lock member is disposed on one of the indicator member and the cap member. The first and second lock members are engaged after the predetermined number of axial movements of the cap member relative to the base member, wherein the first and second lock members maintain the cap member and the base member in one of the first position and the second position when engaged. In another aspect, a preferred embodiment of a method for indicating the number of metered dosages of medicaments dispensed from or remaining in a container is provided.