As Sherlock and others have said, I've never seen 'traveling' in a transitive form like this, and with a mean of 'conducting something along something'.
Nevertheless, when one is dealing with a technical or academic area, it's worth a search to see if there is a specialized usage I'm not aware of. I did so, and found almost no occurrences of 'traveling a signal' and only a handful of 'traveling the signal'. Examining these, they all turned out to be something other than transitive verbs, e.g., gerund: 'Because of all the traveling the signal did after the first repaint...', separate clause: 'While customer is on a call and traveling, the signal will be transferred from one cell site to another'.
There is a transitive sense of traveling, as in 'Traveling the road of life' with many thousands of hits, but there's quite a difference in function and meaning between 'traveling the road' and 'traveling the signal'. In the first one, 'the road' is not moving, and the latter part could be thought of as the object of an omitted preposition [along].