What is a conventional format for presenting algorithms? I'm writing a technical paper and the review committee wants my methodology to be represented in a conventional algorithm format. 

I've been searching all over the web for the conventional structure of an algorithm with little luck. Can someone tell me the conventional format of an algorithm or any specification from IEEE for writing algorithms?
There is no such thing as  the "format" for algorithms. A general agreement¹ is to use pseudocode, i.e. code that abstracts from the particulars of specific programming languages, machines and/or libraries.

The most important thing is to be consistent.
If you want to follow a specific style, I recommend you pick up some textbooks on algorithms and/or data structures and follow the style you like best. 

Some kinds of pseudocode have specific package support in LaTeX, e.g. clrscode, algorithms or pseudocode. For help with these go to tex.SE.




As long as you publish about algorithms as scientist. Articles featuring concrete technology frequently use real code, for better or worse.