Bilateral graphs are simply graphs made to be bilateral due to the fact that they display both positive and negative values with 0 as a common axis. I commonly see such a graph in my line of work with the measurement of G-forces in vehicles. They can be analyzed in a side-to-side fashion when analying track data, or in an acceleration-deacceleration term depending on what is needed to be seen from the set.

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http://www.thedieselpage.com/features/pulloff06-022c.jpg