A new high time resolution x-ray detector has been installed on the Madison Symmetric Torus (MST) to make measurements around sawtooth events. The detector system is comprised of a silicon avalanche photodiode, a 20 ns Gaussian shaping amplifier, and a 500 MHz digitizer with 14-bit sampling resolution. The fast shaping time diminishes the need to restrict the amount of x-ray flux reaching the detector, limiting the system dead-time. With a much higher time resolution than systems currently in use in high temperature plasma physics experiments, this new detector has the versatility to be used in a variety of discharges with varying flux and the ability to study dynamics on both slow and fast time scales. This paper discusses the new fast x-ray detector recently installed on MST and the improved time resolution capabilities compared to the existing soft and hard x-ray diagnostics. In addition to the detector hardware, improvements to the detector calibration and x-ray pulse identification software, such as additional fitting parameters and a more sophisticated fitting routine are discussed. Finally, initial data taken in both high confinement and standard reversed-field pinch plasma discharges are compared.