An intelligent initiating explosive device equivalent device and a pulse timing sequence signal measurement method belong to the field of power supply path detection, relate to the technology of timing sequence signal processing, field programmable gate arrays (FPGA) and virtual instruments, and aim at solving problems that in initiating explosive devices, timing sequence instructions cannot be measured, missile-borne instruments are unsafe and signal collection is not timely. The intelligent initiating explosive device equivalent device comprises high voltage timing sequence input terminals, low voltage timing sequence input terminals, an equivalent device high voltage input level circuit, an equivalent device low voltage input level circuit, a high voltage and low voltage switching circuit, a state indication lamp, an input/output (I/O) control circuit, a 5V power supply, a 24V power supply, a high and low pulse width timing sequence measurement circuit, an optoelectronic isolation digital input and output module, a 104 bus, a personal computer (PC) main machine and a PC 104 main machine power supply. The pulse timing sequence signal measurement method includes initializing; clamp board self-detection: executing the next step if self-detection is finished, otherwise repeating execution of self-detection; high and low voltage self-detection: returning to clamp board self-detection if high and low voltage self-detection is not finished, otherwise conducting high and low voltage detection; and displaying and storing data after high and low voltage detection. The intelligent initiating explosive device equivalent device and the pulse timing sequence signal measurement method are used in intelligent initiating explosive device equivalent device manufacturing.