How to: soil moisture measurement?

Is anyone here had an experience in order to build Soil Moisture Sensor?

Actually my project is about to detect the soil moisture by using Vegetronix VG400 Soil Moisture Sensor probes.

You want to make one or buy one? If you want to buy one, go ahead. You have our permission. Not our paypal number or credit card, though.

If the moisture too dry (RED LED blinking), if the moisture wet (GREEN LED blinking) and if the condition of the soil is not too dry and wet (YELLOW LED blinking).

Typically, red and yellow indicate problem conditions, and green means good.

I also wanna make an alarm when the moisture too dry.

I'd suggest a wave shield with some of these:
http://www.songarea.com/music-codes/dry.html

Can somebody help me to figure it.

What's left to figure out? Just the threshold between too wet/just right and between just right/too dry, and that will depend on the plant(s) you are monitoring.