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This node is inspired by Steve Wright's Digital Compositing for Film and Video and Frank Rueter's SliceTool macro.
I think the parameters speak for themselves, if not, e-mail me and I'll write a more detailed explanation here. One exception is the external graph position, which may need some further explanation. This mode increases the height of the image by 1 pixel and the graph information is drawn in the very bottom line (which you can crop later). In this mode no graph lines can be seen, but if you connect a PlotScanline node to the output, they'll immediately appear on this separate node, therefore you can put the graph to a different viewer for example. (Do not tweak the connected PlotScanline's line parameter, it should always stay on zero!)