Quantum key distribution protocol can provide an unconditional secure key for two communication parties. This paper proposes a quantum key distribution protocol based on squeezed source without monitoring signal disturbance. The quantum key distribution is realized by cyclic shifting the quantum signal at the receiver and measuring the phase difference of any two quantum signals. This protocol can not only generate a secure key, but also do not need to monitor the signal disturbance so as to reduce the complexity of implementation. Moreover, a two-intensity decoy states method is applied into the proposed protocol to estimate the key rate. The experiment results show that both the maximum transmission distance and the security key rate of the proposed protocol is significantly improved. Moreover, only two-intensity decoy state is necessary for approaching the asymptotic limit with infinite decoy states in the proposed protocol.