I'm reposting my answer from this question, since it applies here as well:
When displaying an audio waveform, you will want to do some sort of data reduction on the original data, because there is usually more data available in an audio file than pixels on the screen. Most audio editors build a separate file (called a peak file or overview file) which stores a subset of the audio data (usually the peaks and valleys of a waveform) for use at different zoom levels. Then as you zoom in past a certain point you start referencing the raw audio data itself.
Here are some good articles on this:
Waveform Display
As far as source code goes, I would recommend looking through the Audacity source code. Audacity's waveform display is pretty good and mostly likely does a similar sort of data reduction when rendering the waveforms.
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