An actuator and method for setting a subterranean tool uses an externally mounted actuator on a tubular string that is operably engaged to the tool to be actuated. At the desired location for actuation a signal is given to a valve assembly. The opening of the valve releases the pressurized compressible fluid against a floating piston. The piston drives viscous fluid ahead of itself through the now open valve that in turn drives an actuating piston whose movement sets the tool. The triggering mechanism to open the valve can be a variety of methods including an acoustic signal, a vibration signal, a change in magnetic field, or elastic deformation of the tubular wall adjacent the valve assembly.