Yes, using the make date ranges relative to panel is the best option for what you want. A couple things to keep in mind, if you add a new panel, you will have to select that option for each panel.
The other thing to note is that the date becomes relative to the first date in your panel range. For example, if you're using "last 7 days" in your table, and you set you calendar to June 1 to 30, your table will have May 25 to 31. In the same regard, a date range in your table like "last 6 full months" will be relative to the first date as well. So for June 1 to 30 it would give you all of Dec to May. If your panel date range spans more than one month, for example May 15 to June 15, then it would give you all of Dec to April.
So using a combination of rolling date ranges and this relative feature is likely what you want, just keep in mind how it works.