From what I can tell, the CoDel queuing discipline is the current state-of-the art and is implemented in SQM. I’d like to get other people’s knowledge on this and what is considered best practice today with QoS on OpenWRT.
To install it, you’ll need to browse to System -> Software and uninstall all “wshaper” packages. You might need to click the button there to update your package lists if you’re doing this for the first time too.
From there, follow the install instructions from the link (just search for and install the luci-app-sqm package).