Perspective PowerChart Data Compression

For the perspective powerchart (running Ignition v8.1.17) is there a defined algorithm or set of rules on how data is compressed when displaying a trend? I'm especially interested in the algorithm's ability to show "important" parts in the trend, such as local max/min and not just the global max/mins.

Just as an example, for the snippet below, we can see data trended over 2 weeks. Given data logging settings for this PLC, this is >1 million data points compressed into a chart with 500 points displayed. How can I be confident that there weren't any momentary blips/spikes in the data that aren't shown in the chart when we're reducing the data 2000-fold?