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After pointing out the limitation of the traditional multifractal wavelet model (MWM), and analyzing multi-resolution characteristics of real video traffic, this paper proposes an adjustable scale coefficient MWM model. The improved MWM can adjust wavelet coefficients and multiplicative coefficients based on their distribution of the real network traffic, which can suit the real network characteristics. Subsequently the scale function and multifractal spectrum of the new model are analyzed. The conclusion proves the new model's accuracy.