Abstract-This paper reports algorithm and technique for the accurate phase calibration in order to measure current and voltage waveforms at the terminals of two-port microwave devices. The calibration approach presented in this paper does not require any multi-harmonic coherent signal generator and golden standard, reported in earlier papers, thus allowing the system to be more reliable, generic and accurate. The results achieved using the reported calibration algorithm on a developed measurement setup shows good agreement with those obtained on a standard commercial scope. In the end, it has been shown that the developed algorithm and measurement setup can be adapted for carrying out waveform engineering which clearly identifies the application of this work in the characterization and measurement of microwave devices.