You should use gnuplot and be sure to issue the command "set term dumb" after starting up. You can also give a row and column count. Here is the output from gnuplot if you issue "set term dumb 64 10" and then "plot sin(x)":
1 ++-----------****-----------+--***-------+------****--++ 0.6 *+ **+ * +** * sin(x)*******++ 0.2 +* * * ** ** * **++ 0 ++* ** * ** * ** *++ -0.4 ++** * ** ** * * *+ -0.8 ++ ** * + * ** + * +** +* -1 ++--****------+-------***---+----------****-----------++ -10 -5 0 5 10
It looks better at 79x24 (don't use the 80th column on an 80x24 display: some curses implementations don't always behave well around the last column).
I'm using gnuplot v4, but this should work on slightly older or newer versions.