The compound adjective you want relates to the manner in which the author tells the story.
Consider these examples of adjectival past and present participles:
1. A painted house.
2. A pacing lion.
3. A broken toy.
4. A fading flower.
5. A faded flower.
In #3, for instance, someone broke the toy in the past, i.e. the toy is the object of the action.
In #4, however, the flower continues to fade, i.e. the flower is the subject of the action.
Now which of these does your example resemble? Is the "adventure" the subject or the object of the action?