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You can use the decimation plugin that lets you define the 'lttb'
or 'min-max'
algorithm option.
LTTB decimation reduces the number of data points significantly. This is most useful for showing trends in data using only a few data points.
Min/max decimation will preserve peaks in your data but could require up to 4 points for each pixel. This type of decimation would work well for a very noisy signal where you need to see data peaks.
Please take a look at the Data Decimation Sample and see how it works.
Source:stackexchange.com