Its true, that there are some general tendencies in, how online games tend to play at certain times of the day and week. This probably also depend on the site, but for western facing sites like PokerStars,
888 Poker or
partypoker its fairly similar, because the global distribution of the player pool is similar.
And in general the games tend to be tightest with least recreational players in the European daytime hours. Which mean the night, if you are situated in North or South America and the evening, if you are in Asia. So generally this is the worst time of day to play. Its up for debate, if weekends are really that much better than working days. I sometimes dont notice that much of a difference to be honest. And sometimes European evening hours on working days are not all that great either.
Maybe this is because, I play the micros, where a lot of regulars are not full time pros. So they also come on to the sites, when they are not working. Like myself. The European night time or early morning hours generally seem to be best. But if you are in Europe, you might still want to spend those hours sleeping.
Anyways to me there is no point in adjusting your play to a particular time of day. You need to look at the actual table, you are on. And for cash games, if the table has only tight regulars, there is no need to stay. So I just leave. And if I cannot find good cash tables, which does happen, then I simply dont play. Or I chill out with some SnGs instead.
For tournaments you have to take, what you get. And generally the adjustment, you want to make, is to play tighter against very loose players,
bluff them less and value bet more lightly. Ideally you want to play against loose splashy players, but in tournaments they can also be a little bit frustrating, because they increase your variance.