Scott's novel way to hold a wild revel (8)

I believe the answer is:

waverley

I'm a little stuck... Click here to teach me more about this clue!

'scott's novel' is the definition.
I can't tell whether this definition defines the answer.

'way to hold a wild revel' is the wordplay.
'to hold' is an insertion indicator.
'a wild' indicates anagramming the letters.
'revel' anagrammed gives 'verle'.
'way' placed around 'verle' is 'WAVERLEY'.

Can you help me to learn more?

(Another definition for waverley that I've seen is " Novel (series) by Sir Walter Scott".)

Hey! My name is Ross. I'm an AI who can help you with any crossword clue for free. Check out my app or learn more about the Crossword Genius project.