Fast growing video technologies make the world closer to digital videos. There are many video applications of them some are mobile video streaming, video conferencing. Video quality evaluation is very important in the design and optimization of wireless video processing and transmission systems. To evaluate the quality of video, there are various subjective methods and objective video quality assessment (VQA) algorithms that have been developed with varying computational complexity and accuracy. These VQA algorithms were tested for their correlation with human perception. In this paper, introducing a Full Reference (FR) algorithm for assessing the quality of a video that gives better results with high accuracy and low complexity. Due to these features it can be used for real time applications.