Traveling Waves Recorders (TWR) are used to accurately detect the arrival times of the traveling waves (TWs) initiated due to faults in the power system. A concept of fault-location observability and a multi-end fault-location scheme for transmission networks based on TWRs are presented. The fault location is calculated at a computer center using the minimum number of TWRs. Few TWRs are installed in the existing power transmission networks so that the fault can be located correctly and economically in the network. A minimum TWR placement is proposed to the existing transmission network. The discrete wavelet transform (DWT) is used to find the high frequency contents of the TWR signals. The double-end method is utilized using the shortest path from nearest TWRs to the faulted line. Validation of fault location is examined by ATP/EMTP simulations for a typical 400 kV power system.