Any reliable transmission line protection scheme is expected to quickly detect faults and isolate the faulted section immediately. Ability to locate the fault, further helps fast restoration of service in case of permanent faults or identifying the weak spots in the system. This paper explores different fault detection and location algorithms and their performance is analyzed using different types of faults, fault resistance and inception angles. Influence of series compensation on fault location is also studied. Two fault detection techniques i.e. moving-sum approach and cumulative-sum approach are evaluated. Fault location is done by using travelling wave theory, which is utilized in capturing the travel time of the transients along the monitored lines between the fault point and relay. Wavelet transform is used for analyzing power system fault transients in order to capture the travel time. Performance of location algorithms for both single ended and two ended measurements is analyzed. Results of the performance studies on the algorithms for detection and the location with compensated and uncompensated lines are presented. The performance of the algorithm is tested in MATLAB simulation environment.