Installing the software
To initiate the installation process, download and run the setup file from the provided download link. When you complete the installation process you will need to activate the product (activation is not required for the trial version). Please follow the procedure outlined in the readme file.
When you finish the installation process (you may need to reboot your computer), you should see the following folder in your Windows START menu along with the program link.
The application will need to be granted Administrator rights to be able to access your Metatrader folders (especially if your MT4 terminals have been placed in your C:\Program Files (x86) folder) for the installation and maintenance of the required communication EA and companion DLL files used to transmit data between the trading console and MT4.
Connecting MT4 terminals to VTC
Now that VTC is installed on your computer you can run the program and begin connecting MT4 terminals, which will be managed by the software. This is done via “Setup & Configuration / Accounts” tab. At this point, you should start your MT4 terminals (if they are not already running). As you launch individual Metatrader terminals, they will appear on the accounts list illustrated below. You’ll need to use the [ Install EA ] buttons to copy the necessary EA files to all Metatrader terminals you want to use with VTC. The [ Update EA ] button is used to update the communication files after you have updated the software to a newer version.
When the files are copied to the correct folders you will see the following confirmation message:
Configuring MT4 for proper operation with VTC
Before we move on, we first need to make sure that the Metatrader terminals are properly configured for EA use. The EA will be used to handle all communication between Metatrader and the trading console, so this part is very important. To verify the setup, go to your Tools / Options menu in Metatrader and open the Options window (this can also be done by pressing CTRL-O in MT4):
Use the Expert Advisors tab Make sure that DLL imports are allowed and that Allow automated trading for expert advisers has been enabled. The red arrows on the screen below illustrate correctly set options.
Additionally, you’ll need to put a checkmark next to the “Use ‘Alt’ key to drag trade levels” option, if you wish to use the visual stop management provided via VTC.
Click [ OK ] once everything is set correctly and restart each Metatrader terminal to ensure that all changes are applied.
Establishing communication between MT4 and VTC
To set up the communication link between MT4 and VTC, you’ll need to open a new chart (EURUSD works best as it updates the quickest) and attach the MT4io EA onto that chart (MT4io EA is located in your MT4’s “Navigator” panel under “Expert Advisors”). You will see a status message display on your chart, similar to the one presented below. Please also make sure that you’ve turned ON “Auto Trading” in MT4.
Please make sure that this window is open at all times (it can be minimized) plus make sure you do not switch the periodicity of that chart’s window once the I/O EA is running. Also, DO NOT attach the EA to more than one chart on a single profile!
Note: If you plan to trade cryptocurrencies over the weekend (when the forex market is closed), you’ll need to attach the MT4io EA to a chart that is receiving ticks over the weekend. It can be a cryptocurrency chart.
Once you attach MT4io EAs on all your Metatrader accounts, the individual account icons next to account numbers on the Instant Entry tabs will turn from gray to color, and live quote boxes will be displayed for all open charts in the corresponding Metatrader terminals. At this point, you can use VTC for trading on accounts that have been set up.
The meaning of individual icon colors is as follows:
Communication link active – DEMO account
Communication link active – REAL live account
The communication link between the console and the terminal is down or has not been set up
(most likely, the MT4io EA is not attached to a chart that is currently receiving quotes from the market)
IMPORTANT! You need to have VTC open at all times if you’re utilizing any of the trade management functions as these are executed and controlled within the VTC application.
Closing (or restarting) of VTC, while trades are being managed, will cause the trade manager to stop managing previously running positions.