Continuous wave pulse transmission technology has become the forefront development direction of measurement while drilling and logging information transmission with its high transmission rate and strong anti-interference ability. In this paper, the denoising principle of time-domain delay differential method based on two pressure sensors is analyzed in detail. The acquisition signals of two sensors with different sensor intervals and SNRs (Signal-to-Noise Ratio) are constructed. The denoising ability of the time-domain delay differential method in different cases, i.e., stable and unstable pump noise, the amplitude and frequency distortion of the original pulse signal, and the structural change of the original pulse signal, are emphatically studied. Simulations show that this method can effectively suppress the pump noise even when there is a significant fluctuation in the fundamental frequency and amplitude of pump noise. This method can also obtain well-formed reconstructed signal when the pulse signal has high frequency and amplitude distortion. Besides, a general method for deriving an optimal dual-sensor installation interval is discussed for a BFSK (Binary Frequency Shift Keying) transmission signal, which consists of high-frequency and low-frequency carrier waves, and a reference installation interval is given. Finally, this method is applied to denoise the actual dual-sensor acquisition signal, and satisfactory results are obtained.