Are you looking to do this on the web or desktop?
Either way, streaming a movie of a real-time line trace would be a hugely cpu-intensive way of approaching the problem. Video-encoding is a very cpu-intensive process, usually done off-line, not on-the-fly.
The most (band-width) economic method would be to transmit (just) the numeric values and have the graph drawn locally. Basically, each update would consist of bit-blitting the right-most, width-N pixels left N pixels and then drawing the new N-pixel position on the right.
Updating 60 times per second may be a little too fast across an unreliable html connection, but you can easily reduce that (to 30/sec) by doing two new values at a time, or (15/sec) doing 4 at a time etc.
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