Google cloud natural language AI with news Rest API

[Ihsan Al-Hamd-Azeez]

Hi everyone,

I’m considering developing a Forex trading strategy that uses Google Cloud Natural Language AI to analyze news and generate trading signals. My plan is to integrate it with something like NewsAPI to get real-time financial news and perform sentiment analysis on it, hoping to capture the market sentiment and act accordingly (e.g., going long/short based on positive/negative news).

Before I dive into it, I wanted to ask if anyone has tried something similar? 

I’m also concerned about the costs, as both NewsAPI and Google Cloud can get quite expensive if used extensively. So, I’d appreciate hearing from anyone who has already gone down this path. Was the ROI worth the subscription fees?

Looking forward to your insights and experiences. Thanks in advance!

[Stanislav Korotky]

Before you delve into difficulties of AI and related infrastructure, you could probably analyze Forex calendar news, which have a field with impact type (positive, negative, undefined - see MqlCalendarValue), and use it as ready-made sentiment according to actual change of corresponding value (for example, if GDP of a country grows this usually means that its currency grows as well). This way you can check if your idea/strategy works in a blueprint. Then you can decide if it worths adding such complications as AI.