Dynamic spectrum (DS) detection is attractive among the numerous noninvasive blood component detection methods because of the elimination of the main interference of the individual discrepancy and measure conditions. DS is a kind of spectrum extracted from the photoelectric pulse wave and closely relative to the artery blood. It can be used in a noninvasive blood component concentration examination. The key issues in DS detection are high detection precision and high operation speed. The precision of measure can be advanced by making use of over-sampling and lock-in amplifying on the pick-up of photoelectric pulse wave in DS detection. In the present paper, the theory expression formula of the over-sampling and lock-in amplifying method was deduced firstly. Then in order to overcome the problems of great data and excessive operation brought on by this technology, a quick algorithm based on LabVIEW and a method of using external C code applied in the pick-up of photoelectric pulse wave were presented. Experimental verification was conducted in the environment of LabVIEW. The results show that by the method presented, the speed of operation was promoted rapidly and the data memory was reduced largely.