No. Forget about "On fly / jQuery" translation method, it was a free feature and now it is closed.
You can use Pro version with v2 API if you want to pay for it. The translations will be done automatically on the fly with or without v2 API, but don't mix it with "On Fly / jQuery" translation method which was a feature in free version.
Please check our website to see how the Pro version works: https://gtranslate.io