Photoplethysmography (PPG) technology is widely used in wearable heart pulse rate monitoring. It might reveal the potential risks of heart condition and cardiopulmonary function by detecting the cardiac rhythms in physical exercise. However the quality of wrist photoelectric signal is very sensitive to motion artifact since the thicker tissues and the fewer amount of capillaries. Therefore, motion artifact is the major factor that impede the heart rate measurement in the high intensity exercising. One accelerometer and three channels of light with different wavelengths are used in this research to analyze the coupled form of motion artifact. A novel approach is proposed to separate the pulse signal from motion artifact by exploiting their mixing ratio in different optical paths. There are four major steps of our method: preprocessing, motion artifact estimation, adaptive filtering and heart rate calculation. Five healthy young men are participated in the experiment. The speeder in the treadmill is configured as 12km/h, and all subjects would run for 3-10 minutes by swinging the arms naturally. The final result is compared with chest strap. The average of mean square error (MSE) is less than 3 beats per minute (BPM/min). Proposed method performed well in intense physical exercise and shows the great robustness to individuals with different running style and posture.