So I managed to get this working but its incredibly slow on large data 
sets.  Is there a better way to do this?

from pyqtgraph.Qt import QtGui, QtCore
import pyqtgraph as pg
import numpy as np

win = pg.GraphicsWindow()
p1 = win.addPlot()
values = [10,50,8,64,45,9,6,12,6,43,3,7,33,67,82,42,12,7,40,8]

for i in range(len(values)-1):
    if values[i]>values[i+1]:
        p1.plot([i,i+1],values[i:i+2], pen=(255,0,0))
    else:
        p1.plot([i,i+1],values[i:i+2], pen=(0,255,0))

if __name__ == '__main__':
    import sys
    if (sys.flags.interactive != 1) or not hasattr(QtCore, 'PYQT_VERSION'):
        QtGui.QApplication.instance().exec_()



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