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I do not recommend to use a RTH template for FOREX pairs or currency futures. The Euro often makes large moves during the London session and you will not know what European traders did if you use a RTH session template.
So either you would use an ETH template covering the electronic trading times (5:00 PM EST to 4:00 PM EST), or an ETH template with subsessions. The templates are attached below.
Here is an example, why you should not exclude the European session from your charts.
The volume during the European session is slightly lower than during the US session. But if there is a larger move, the European session will set the benchmark for the US session.
Also you will get unnecessary gaps if you use charts with multiple bar series, as these require non-equidistant bar spacing.
To summarize: The session template 24/7 is always false and should be avoided in any case. It is based on midnight New York time, and I do not know any instrument. for which the trading session closes at midnight EST.
For futures look up the official trading times at the exchange and select an appropriate session template under instrument settings.
The session template does not depend on your time zone. The session template uses the timezone of the exchange. You can use one of the three session templates, which I posted above at your choice.
Which session template you use, entirely depends on your trading habits. If you want to trade the European session, it is likely that you want to use an opening range breakout indicator such as the noise bands. Then you will probably select the third template which has a separate session starting with the London open.
If you trade the US session only, then you can rely on the second session template above, which reproduces the exact RTH session times of 6E, as per contract specifications.
If you just use pivots and VWAPs, but no opening range related indicators, then you can take the first template, which reproduces electronic trading hours of 6E.
