Code:

chart = new CChartDraw(panel1.CreateGraphics(),
        panel1.Width, panel1.Height);

Code:

#define ANIMATION

using System;
using System.Drawing;
using System.Drawing.Drawing2D;
using System.Windows.Forms;
using System.Collections;

#if DEBUG
using System.Diagnostics;
#endif

namespace ChartDraw
{    
    public class CChartDraw
    {
        private System.Drawing.Graphics gSurface;
        private Bitmap surface;
        private int border_size;
        private Color border_color = Color.White, body_color = Color.LightGray, grid_color = Color.Black,
                line_color = Color.Blue;
        private bool draw_grid = false,    draw_coordinates = false;
        private float line_size = 1;
        private Size area;

#if ANIMATION
        private Point pStart, pEnd;
        private Timer tmr;
        private int eCounter = 0;
        long min = 0, max = 0;
        private float kx=0, ky=0;    
        private ArrayList valuesArray;
        private float line_kx, line_ky;
        private int steps, stepCounter;
        private Bitmap bmp;
#endif
        
        #region Constructors
        public CChartDraw()
        {
            surface = new Bitmap(16, 16);
            gSurface = Graphics.FromImage(surface);

            border_size = 0;
        }

        public CChartDraw(int x, int y)
        {
            surface = new Bitmap(x, y);
            gSurface = Graphics.FromImage(surface);

            border_size = 0;
        }        
        
        public CChartDraw(Graphics g,int width, int height)
        {
            gSurface = g;
            surface = null;

            border_size = 0;

            area = new Size(width, height);

#if ANIMATION
            pStart = new Point(0,0);
            pEnd = new Point(0,0);
#endif
        }
        #endregion


        public float LineSize
        {
            get
            {
                return line_size;
            }
            set
            {
                line_size = value;
            }
        }
        public Color LineColor
        {
            get
            {
                return line_color;
            }
            set
            {
                line_color = value;
            }
        }
        public Color GridColor
        {
            get
            {
                return grid_color;
            }

            set
            {
                grid_color = value;
            }
        }
        public Color BorderColor
        {
            get
            {
                return border_color;
            }
            set
            {
                border_color = value;
            }
        }

        public Color BodyColor
        {
            get
            {
                return body_color;
            }
            set
            {
                body_color = value;
            }
        }

        public bool DrawGrid
        {
            get
            {
                return draw_grid;
            }
            set
            {
                draw_grid = value;
            }
        }
        public bool DrawCoordinates
        {
            get
            {
                return draw_coordinates;
            }
            set
            {
                draw_coordinates= value;
            }
        }
        public int BorderSize
        {
            get
            {
                return border_size;
            }
            set
            {
                border_size = value;
            }
        }
        public void ApplyChart(Graphics g)
        {
            if(surface != null){
                g.DrawImage(surface, 0, 0);
                g.Flush();
            }
        }
        

        public void DrawChart(ArrayList arr)
        {
#if !ANIMATION
            long min = 0, max = 0;
            float kx=0, ky=0;
#endif
            int elements = 0;            
            int xs = 0, ys = area.Height ;            

            foreach(object o in arr)
            {                
                if((int)o > max) max = (int)o;
                if((int)o < min) min = (int)o;
                elements++;
            }
            
            if(elements > 0)
            {                
                kx = (float)(area.Width - (border_size<<1))/elements;
                ky = (float)(area.Height - (border_size<<1))/(max-min);
            }

            gSurface.FillRectangle(new SolidBrush(border_color),0,0, area.Width, area.Height);            
            gSurface.FillRectangle(new SolidBrush(body_color), border_size, border_size,
                    area.Width - (border_size<<1), area.Height - (border_size<<1));

            if(draw_grid)
            {
                // TODO grid
            }

            if(draw_coordinates)
            {
                gSurface.DrawLine(new Pen(new SolidBrush(Color.Black), 2), border_size,
                    area.Height + (min * ky) - border_size,
                    area.Width - border_size,
                    area.Height + (min * ky) - border_size);
            }

            elements = 0;
            
            xs = border_size;
            ys = area.Height - border_size;

            foreach(object o in arr)
            {                
                gSurface.DrawLine(new Pen(line_color, line_size),xs,ys,
                    (xs=(int)(elements*kx)+border_size),
                    (ys=area.Height - (int)((int)o * ky) - border_size + (int)(min*ky)));
                elements++;
            }
        }

        private void PrepareBackground()
        {
        }

#if ANIMATION
        public void StartAnimation(ref ArrayList arr, int interval)
        {
            int elements = 0;            

            valuesArray = arr;
            
            foreach(object o in valuesArray)
            {                
                if((int) o > max) max = (int) o;
                if((int) o < min) min = (int) o;
                elements++;
            }
            
            if(elements > 0)
            {                
                kx = (float) (area.Width - (border_size<<1))/elements;
                ky = (float) (area.Height - (border_size<<1))/(max-min);
            }

            tmr = new Timer();
            tmr.Interval = interval;
            tmr.Tick += new EventHandler(tmr_Tick);            

            bmp = new Bitmap(area.Width, area.Height, gSurface);

            eCounter = 1;
            stepCounter = -1;

            pStart.X = border_size;    // TODO zameni se sa drugim clanom niza
            pStart.Y = area.Height - (int) ((int) valuesArray[0]*ky) - border_size + (int) (min*ky);

            tmr.Start();
        }

        private void tmr_Tick(object sender, EventArgs e)
        {
            int lenX, lenY;
            int x, y;

            if(stepCounter >= steps)
            {                
                stepCounter = -1;
                eCounter++;

                pStart.X = pEnd.X;
                pStart.Y = pEnd.Y;                
            }
            
            if(eCounter >= valuesArray.Count)
            {
                ((Timer) sender).Stop();            
                return;
            }

            if(stepCounter < 0)
            {                
                pEnd.X = (int) (eCounter*kx) + border_size;    // TODO isto zameniti sa drugim clanom niza :)
                pEnd.Y = area.Height - (int) ((int) valuesArray[eCounter] * ky) - border_size + (int) (min*ky);

                lenX = (pEnd.X - pStart.X);
                lenY = (pEnd.Y - pStart.Y);

                // HACK Hmmmmmmmmmmm
                steps = (lenX<0)?lenX*-1:lenX;
                if(steps < ((lenY<0)?lenY*-1:lenY)) steps=((lenY<0)?lenY*-1:lenY);                
            
                line_kx = (float)lenX/steps;
                line_ky = (float)lenY/steps;

                stepCounter = 0;
            }                        

            x = ((int)(stepCounter * line_kx)) + pStart.X;
            y = ((int)(stepCounter * line_ky)) + pStart.Y;
            
            bmp.SetPixel(x,y, line_color);
            if((stepCounter&0x1) > 0) gSurface.DrawImage(bmp, 0,0);
            stepCounter++;
        }        
#endif        
    }
}