Yes, and perhaps have an indicator for current speed as well, for those ships that aren't capable of instantly accelerating to any set speed. So there would be one indicator for speed presets (quarter/half/three-quarters/full) and an indicator for current speed (for real time reference). Also, the speed indicator should be zeroed in the middle and not on the bottom, so you would have an indicator for forward/backward momentum, rather than just general speed.
Maybe we could even have a docking speed (really slow creep) for bump-docking so you won't be bowling the thing you're docking to hafway across the system by the time you get a reliable lock on it.