How to Pick a Journal for Publishing a Research Work?
Getting work published in a high impact factor journal is quite a slog. If you're starting from not having presented at a conference etc. before, that's going to be an even bigger ask.  

However, it's not impossible.

For IEEE journals, short notes about signal processing topics can be sent to the IEEE Signal Processing Letters journal.

However, starting there might be too much.

What I'd suggest is to look at starting with an online journal such as arxiv or PLOSone. 

Even before submitting there, I'd suggest posting a question here that might be relevant to the situations where the algorithm might be better than others, and also posting an answer with your algorithm.

The aim with any of these submissions is to get feedback about your work and improve it or its presentation.