Here's a tab version of a 3 octave arpeggio practice pattern for the chord E major, taken from Trinity College of Music's Scale and Arpeggio exam syllabus. As Kirk said, there's more to arpeggios than just holding a chord and playing some strings in turn. This example shows one of many routes through the chord tones of E major (E G# B) in strict order of 1, 3, 5 ascending and 5, 3, 1 descending.
-------------------0----------12----------0----------------
----------------0-----9---12------12---9----0--------------
-------------1----------------------------------1-----------
----------2----------------------------------------2--------
--------2---------------------------------------------2-----
--0--4---------------------------------------------------4--0
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