High-resistance faults on the DC lines of multi-terminal VSC-HVDC grids lead to insufficient protection reliability, and the introduction of current-limiting strategies alters the system’s intrinsic fault characteristics, degrading protection performance. To address these issues, we propose a DC-line protection scheme that is immune to converter control strategies and highly tolerant to fault resistance. First, based on the grid topology, post-fault current paths are analyzed, and the fault characteristics produced solely by the fault-induced voltage source are identified. A sequential overlapping derivative transformation is then employed to magnify the discrepancy between internal and external faults, forming the core of the fault-identification criterion; the zero-mode component is used for pole selection. Finally, a four-terminal VSC-HVDC model is built in PSCAD/EMTDC version 4.6.2 for validation. Simulation results show that, after applying the current-limiting strategy, the characteristic quantity changes only marginally, and the proposed protection can reliably withstand fault resistances of up to 700 Ω.