Common Event (Trigger: Parallel Process)
Branch if Switch [0001] is OFF
Key Input Processing: Var [0001] (Set to "Equal to 7", untick "Wait until key pressed")
Branch if Var [0001] is 7
Move Event: Hero, Increase Move Speed, Change Graphic
Wait 0.2 Sec
Switch [0001] ON
End
End
Branch if Switch [0001] is ON
Key Input Processing: Var [0001] (Set to "Not 7", untick "Wait until key pressed")
Branch if Var [0001] is 7 Not
Move Event: Hero, Decrease Move Speed, Change Graphic
Wait 0.2 Sec
Switch [0001] ON
End
End
If you're increasing and decreasing speed more than what I've shown, remember its a 0.1 Sec wait for each additional movement.
If you want it to trigger only when a certain item is equipped, encase the first part in a "Conditional Branch: HERO equipped with Speed Item". If you want it to work for all heroes, add an else, and put in a "Conditional Branch: HERO2 equipped with Speed Item". If you want to
Probably a neater way, but that should work anyway. Coincidentally, I'm making a Pokémon game. Go figure.