Accurate monitoring techniques are needed to improve pavement durability by ensuring their structural integrity and longevity. This study developed an innovative real-time monitoring system utilizing fiber Bragg grating (FBG) sensors embedded in asphalt layers. The data collected by FBG sensors includes a baseline primarily influenced by temperature and peak shape data associated with short-term loading from passing vehicles. Therefore, analyzing FBG data and identifying statistical patterns poses a challenge. To address this challenge, employing a signal tracker proves to be a valuable option for monitoring the baseline and scanning signals for subsequent analysis. Moreover, considering the varying loading weights on FBG sensors due to diverse vehicles, tracking FBG signals across multiple thresholds enhances precision. A MATLAB-based program was developed incorporating a multi-threshold signal tracker capable of efficiently processing FBG data by tracking signals in both positive and negative multi-thresholds. This tracker effectively distinguishes between different loading events and extracts the baseline signal after tracking. Subsequently, the system provides outputs, including loading distribution, number of loading events, traffic, and temperature effects. Finally, to validate the system, real FBG data collected during an extensive monitoring campaign was processed using the developed program. The obtained outputs contribute to a comprehensive assessment of pavement performance, thereby facilitating the development of more accurate maintenance and rehabilitation strategies.