There are a few approaches to this problem, the easiest (if you don't mind a bit of programming) is the microcontroller, such as an Arduino, which was born for this kind of thing.
If you're interested in a more discrete design, read on.
First we need to clean up the sensor signal. We have these issues to take care of:
The signal potentially has slow slewing edges, which might not be fast enough to operate logic circuitry. Those edges need to be squared up.
We may not be guaranteed that the signal swings from ground all the way to the supply potential, so we should fix that.
Sometimes a stationary sensor will output high, sometimes low. We want pulses that are guaranteed to occur at each sensor signal rising edge (or falling, but not both), and last long enough to discharge a capacitor (as we'll see later).
simulate this circuit – Schematic created using CircuitLab
Ignore sources V1 and V2, they are for graphing only. The hysteresis symbol near inputs of gates G1 and G3 indicate that the gate must be a schmitt trigger input device.
This circuit produces pulses of duration approximately \$R_{1} \times C_{1}\$ (100μs using the values shown) on each positive going edge of its input, and the output will always return to zero, even if the input remains forever high:
Here's an implementation of a missing pulse detector. An incoming pulse will discharge a capacitor, after which the capacitor is free to slowly charge. If left to charge, capacitor voltage may reach some threshold, which we can detect. Otherwise, if the pulses arrive frequently enough, that threshold is never reached.
simulate this circuit
With VR1 positioned so that the combined resistance of VR1 and R2 is about 270kΩ, here's what happens when pulses arrive 4 per second:
The CLEAN pulses (blue) are just far enough apart to permit the capacitor to charge (orange) beyond the threshold of 3V, and output FAST (brown) can be seen going low for a short period each cycle. By contrast, when pulses arrive at a rate of 5 per second, the capacitor is discharged before it can ever reach the threshold, and FAST remains high:
I imagine you probably don't want a sequence of pulses to indicate a low-flow condition, so the last thing to do is derive a signal which is a steady low when pulses at FAST are detected. I'll leave that one with you, and if I have any epiphanies about about it, I'll come back and tell you.