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1 - Create your item. Be sure to give it a unique tag name and that you remember that tagname....you'll want that info later. Make it "magical." Edit the properties of the item and click the "Properties" tab.
2 - There, you should see a whole bunch of effects. Go down to "Cast Spell" and click that to open that, then go down to "Unique Power." Decide if it's a power that you will cast on others, or only on the wielder, then double-click the appropriate decision.
3 - When you double-clicked, that added that Unique Power to the right-hand pane of the window. Double-click the power there, to determine how many charges per day it gets.
3 - When done, click OK/Done to get back to the editor

Now you have your item, you need to get it to work. Here's what you do:

1. Go to Edit->Module Properties->Events
2. For the OnActivateItem click Edit.
3. Paste this script and save as StoneRecall01 (or whatever you want)

NWScript:

void main()

{

object oActivated = GetItemActivated();

switch(2);

{

// Item 1 = Stone of Recall type item.

case 1: if(GetTag(oActivated) == "item1")

{

object oObject = GetItemActivator();

object oTarget = GetItemActivator();

location lLocation = GetLocation(oObject);

 {

// Object 1 = A Placeable object (invisible object works best). Must be the blueprint name NOT TAG!!

 CreateObject(OBJECT_TYPE_PLACEABLE, "object1", lLocation, FALSE);

 }

 {

// stonerecall02 = name of second script

  ExecuteScript("stonerecall02", oTarget);

 }

}

}

}

4.Create a new placeable object and give it a unique tag. Make sure it's apperance is set to Invisible Object. This is your object1 in the script above.
5. Create a new waypoint and give it a unique name. Place this where you want the player to appear after activating the item.
6. Go to the Script Editor, paste this in and save as "stonerecall02".

NWScript:

void main()

{

object oActivated = GetItemActivated();

switch(2);

{

case 1: if(GetTag(oActivated) == "item1")

{

object oPC = GetItemActivator();

// waypoint1 = Tag of waypoint where the player will be taken to when they activate the stone

object oTarget = GetWaypointByTag ("waypoint1");

AssignCommand (oPC,JumpToObject(oTarget));

ApplyEffectToObject (DURATION_TYPE_INSTANT, EffectVisualEffect (VFX_IMP_HOLY_AID), oPC);

}

}

}

7. Create a Recall Portal near the waypoint you just made.
8. Go to the Advanced Tab and edit the conversation.
9. Create a new conversation, with just a simple line like "This will take you back to where you activated the Stone of Recall". Add a PC line such as "Step in to the Portal" and then add this script to the Actions Taken part.

NWScript:

void main()

{

  location lLocation;

  object oObject, oActionSubject, oPC, oDestroy;

  {

    // object1 = blueprint name of the placeable created in the first script	

    oObject = GetObjectByTag("object1", 0);

    oDestroy = GetObjectByTag("object1", 0);

    oActionSubject = GetPCSpeaker();

    oPC = GetPCSpeaker();

    lLocation = GetLocation(oObject);

    {

      AssignCommand(oActionSubject, ActionJumpToLocation(lLocation));

      ApplyEffectToObject (DURATION_TYPE_INSTANT, EffectVisualEffect (VFX_IMP_UNSUMMON), oPC);

    }

    {

    DestroyObject(oDestroy, 3.0);

    }

  }

}

That's it. If it seems complicated trust me it isn't. Obviously this script is open to improvement and I welcome any constructive critisism. Thanks again to Yeldrig Yar.