The analysis and utilization of massive recording data of distribution grid fault indicator is beneficial to improve the effect of distribution grid fault diagnosis. In this paper, the distribution grid monitoring are realized by the random matrix theory (RMT) of high dimensional statistical analysis. The fault diagnosis method based on RMT has the advantages of no need for detailed distribution grid topology, comprehensive utilization of wide-area spatiotemporal data, and observation from a muti-dimensional view. By explaining the application principle of limit spectrum distribution function, the linear eigenvalue statistics (LES) is proposed as the state monitoring index. Distribution grid fault diagnosis based on fault indicator and RMT provides a new data-driven method for distribution grid fault diagnosis while efficiently utilizing massive fault indicator data.