This chapter addresses accurate positioning of devices with 5G using flexible wavelet packet modulation. Wavelet Packet modulated (WPM) signal can be used for joint communications and ranging. Time-of-arrival (TOA) utilizes the time delay to get the distance and looks for the intersection of at least three circles to estimate the location. It requires synchronization at both transmitter and receiver side, which is always an important issue in the wireless network, as well as the information of transmission time. In disturbance-free environments the cross-correlations of WPM waveforms equal zero and perfect reconstruction is possible despite the time and frequency overlap. The waveforms are created by the multilayered tree structure filter bank. Wavelet Packet Modulation is a strong candidate for signal design in 5G networks. In order to obtain the global minimum, the original non-convex constraints and the objective function were translated into the autocorrelation domain.