This paper presents a novel algorithm to detect and localize open-circuit faults (OCFs) in three-phase Dual Active Bridge (DAB) converters. The proposed algorithm reduces the number of required current sensors, and simplifies detection and localization processes when compared to state-of-the-art methods. The algorithm is designed based on the observed waveform patterns in a simulated prototype, and verified using a 400-V, 2-kW experimental prototype using 650-V GaN devices switching at 300 kHz. Experimental results show the successful detection of the OCFs, demonstrating the functioning of the proposed algorithm.