The paper analyses the existed protection of microgrid. And in order to meet the requirements of microgrid protection, a novel protection is presented in this paper. The protection based on local information without the need of communication, uses current traveling waves to identify faulted feeder, and the bus bar voltages to determine a event caused by fault or switch operation. In the protection scheme, current traveling waves are measured by current transducers in N line and phase lines, and wavelet multi-resolution analysis is used to decompose traveling wave signals. The initial traveling waves are compared in magnitude and polarity with each other to determine the faulted feeder. The protection is independent of microgrid operation connected with the main power grid or in island. (4 pages)