Simple Counter

So I was attempting to make a simple counter that counted redstone pulses. I though this would work, but apparently I did something wrong.
I apologize in advance for a beginner's mistake

red = rs.getInput("back")
i = 0
while red == true do
i = i+1
term.redirect(peripheral.wrap(right))
term.clear()
term.setCursorPos(1,1)
print(i)
term.restore
term.clear()
term.setCursorPos(1,1)
print("The value is "..i)
end

This should do it.

local i = 0 -- local varibles are best here
local bPast = false
local this = peripheral.wrap("right")
while true do
    os.pullEvent("redstone")
    local bInput = rs.getInput("back")
    if bInput and not bPast then
	    bPast = true
	    i = i+1
    elseif not bInput then
	    bPast = false
    end
    term.redirect(this)
    term.clear()
    term.setCursorPos(1,1)
    print(i)
    term.restore()
    term.clear()
    term.setCursorPos(1,1)
    print("The value is "..i)
end

You never update the "red" variable, so the loop never ends. There's some other errors.
Try with this:

term.redirect(peripheral.wrap("right")) -- redirect output

local count = 0 -- initialize the count to 0
local lastInput = rs.getInput("back") -- variable to store last redstone input

while true do -- infinite loop
  term.clear() -- clear the screen
  term.setCursorPos(1, 1)
  print(count) -- print the current count
  os.pullEvent("redstone") -- wait for redstone change
  local input = rs.getInput("back") -- get redstone input
  if input ~= lastInput then -- check if it changed (to know if it's a pulse)
    if input then -- if it's on
	  count = count + 1 -- add one to the count
    end
    lastInput = input -- update the last input
  end
end

Thank you BigSHinyToys! Worked great. Also thank you MysticT for giving me that, but when I tried your code, I recieved "Bios:355: bad argument: string expected, got nil." I just thought you should know.

You copied something wrong, cause there's no way that the string "right" is not a string. Maybe you forgot the quotes.

Now is there a way to make the computer set off an output of redstone to the left once it hits a certien number of counts?

I have modified this to out after 5 the total that it outs at is variable.

Spoiler

local i = 0 -- local varibles are best here
local bPast = false
local this = peripheral.wrap("right")
local outSide = "left"
local outAt = 5 -- Number that it outputs at.
while true do
    os.pullEvent("redstone")
    local bInput = rs.getInput("back")
    if bInput and not bPast then
		    bPast = true
		    i = i+1
    elseif not bInput then
		    bPast = false
    end
    term.redirect(this)
    term.clear()
    term.setCursorPos(1,1)
    print(i)
    term.restore()
    term.clear()
    term.setCursorPos(1,1)
    print("The value is "..i)
    -- new lines
    if i == outAt then
	    rs.setOutput(outSide,true)
	    break -- leaves the loop
    end
    -- end new lines
end
term.restore()
term.clear()
term.setCursorPos(1,1)
print("Program Ended. Shuting down in 5 seconds")
sleep(5)
os.shutdown()