Fractal algorithms for signal analysis are developed from geometric fractals and can be used to describe various complex signals in nature. A roughness scaling extraction algorithm with first-order flattening (RSE-f1) was shown in our previous studies to have a high accuracy, strong noise resistance, and a unique capacity to recognize the complexity of non-fractals that are common in signals. In this study, its disadvantage of a long calculation duration was addressed by using a dichotomy-binary strategy. The accelerated RSE-f1 algorithm (A-RSE-f1) retains the three above-mentioned advantages of the original algorithm according to theoretical analysis and artificial signal testing, while its calculation speed is significantly accelerated by 13 fold, which also makes it faster than the typical Higuchi algorithm. Afterwards, the vibration signals of the milling process are analyzed using the A-RSE-f1 algorithm, demonstrating the ability to distinguish different machining statuses (idle, stable, and chatter) effectively. The results of this study demonstrate that the RSE algorithm has been improved to meet the requirements of practical engineering with both a fast speed and a high performance.