The conventional fault location algorithms based on the travelling waves have an inherent problem. In cases of the close-up faults occurring near the relaying point and of the faults having zero degree inception angle of voltage signals, the conventional algorithms can not estimate an accurate fault distance. It is because the shapes of travelling waves are near sinusoidal in those cases. A new method solving this problem is presented in this paper. An FIR(Finite Impulse response) filter which makes high frequency components prominent and makes the power frequency component and dc-offset attenuated is used. With this method, the cross-correlation peak is to be very clear when a close-up fault or a fault having near zero-degree inception angle occurs. The cross-correlation peaks can be clearly distinguished and accurate fault location is practically possible consequently. A series of simulation studies using EMTP(Electromagnetic Transients Program) show that the proposed algorithm can calculate an accurate fault distance having maximum 2% or less error.