The Your Activity panel is quite similar in Facebook and Instagram. It has a bar graph for the last seven days, with a big number, showing the daily average. If you think you need to cool it down, there is an option to set a daily reminder that will arrive as a push notification when the limit is passed.
If you are like the people that keep opening the app after every single notification and you realize how wrong that is, now there’s the option to select if Facebook and Instagram should push notifications. You can mute them for a period or go straight to the app settings through Android and mute them completely. Of course, every notification will appear in its respective panel once you open the app on your own.