Intelligent algorithm has been widely implemented to effectively diagnose faults in industrial instrument, electrical equipment and mechanical equipment. In addition, the rapid development of sensing technology generated enormous time series signal. Accordingly, diagnosing faults by analyzing time series signal has been widely developed. This paper aims to diagnose faults by applying improved Convolution Neural Network with Compression Enhancement (ICECNN-1D) to analyze time series signal, which effectively considers time series property of signal while diagnosing faults by artificial intelligence. Additionally, a large number of trend features and fluctuation features in high-frequency time series are also considered. the recognition rates of almost other machine learning algorithm are less than 90% in the experiments. Other methods may provide high rate of recognition, but their fluctuation of the recognition rate has varied obviously with different loads, and results provide undesirable ability of generalization under different working conditions. Comparatively, ICECNN-1D model provides high recognition rate and terrific ability of generation while processing time series with high frequency, and its accuracy of the recognition rate fluctuates inconspicuously with different loads.