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The logic is that after twenty days, any chart object that has not been viewed during that time will be removed for house cleaning purposes. There is no option to change this value however, if you ensure that within the twenty day period the chart object is visible on your screen, the twenty day counter will reset.
Local are saved per chart, global are saved independent of charts. Since global objects are independently saved and you would not know if there were global objects that exists in time farther back than your standard chart look back, you can inevitably run a large file of obsolete objects which can have memory and performance impact. Thus, we have house cleaning on these objects set to 20 days.