Yes, Days to keep historical data does what you are looking for. After the specified number of days, the old data gets overwritten with new data. So, you always have only the specified number of days' of data in Citadel.
Note: You may sometimes see that old data doesn't get overwritten till after a day or so of your setting (depending on how much data is being logged). This is because Citadel logs in "pages" and waits till the current page it's logging to is full before it starts overwriting the old ones.
You do not have to use the 'Max time between logs' option for this. This option forces Citadel to log data every so-many hh:mm:ss regardless of whether or not the data has changed. Note that this is NOT a way to "log data on
demand". Because, this periodic logging of data would change for a particular tag when its data changes. So, even with this setting all data may not get logged at one shot. Anyways, as I said, you do not have to use this setting for what you're trying to do.
Regards,
Khalid