It is a frequent requirement to make measurements on production lines. Position on these is often tracked with Rotary Encoders https://en.wikipedia.org/wiki/Rotary_encoder . Many NI devices can accept the quadrature pulse train from such a device, and correctly produce a current position count. The information in the 2 phase pulse train allows the counter to correctly track foward and reverse motion.
What would be very useful would be a callback in NI-DaqMX that is called after every n pulses, ideally with a flag to indicate whether the counter is higher or lower than the previous value, i.e. the direction.