How to plot a line graph with extreme value changes and a large data set?

In my opinion I think it'll depend on why you want to visualize it / what you're trying to analyze. If it's appropriate, you might try something like a moving average to smooth out the sharp value changes.

I got this visualization from this blog post.

For x-axis:

No one can see 10K points on a single plot, therefore

• give the user the opportunity to display desired range

How is it possible? For example,

• user DataRangeSlider from bokeh widgets

For y-axis:

• if your largest and smallest values are intrinsic to your system and you want to display them as they are, use logarithmic scale
• if your largest and and small values are outliers, use robust moving values, for example medians
• if your largest and and small values are outliers and you want to avoid averaging, just restrict the y-axis to the values of interest

I found a another style of plot that might be interesting in this case: a boxplot.