One possible fanfiction could be about a crossover where Naruto characters end up in the Highschool DxD universe. Maybe Naruto himself could attend the high school and use his ninja skills in the unique situations there. He might form new friendships or rivalries with the characters from Highschool DxD.
One idea could be to create an OC youkai who is a kitsune. The kitsune could have unique powers like illusion - making and fire manipulation. It could start as an enemy to the main characters in Highschool DxD but later become an ally due to shared goals, such as protecting the human world from a greater evil.
Well, adding Poison Ivy to a Highschool DxD fanfiction could be really interesting. She could bring her unique plant - controlling abilities to the story. Maybe she could be a transfer student with a mysterious past, and her powers could either help or create chaos in the already wild world of Highschool DxD.
The Highschool DxD manga has indeed finished. It wrapped up after completing all the planned story arcs and providing a satisfying conclusion for the readers.
One potential new protagonist could be Issei's other friends or comrades. Since Rias is being bashed in this type of fanfiction, they might get more screen time and development. For example, Kiba could step up and show his leadership skills and unique abilities more.