Each collection type - Project, Folders and Meetings - can have two status details:
This is a high-level perspective of how well the project performs:
This shows if there are still action that have to be done in a project and if the project is currently managed and processed:
Open the Folder Settings panel by tapping the accessories button.
Select the Traffic Light (1) and Activity (2) status using the segmented buttons.
The Traffic Light is displayed as colored line in the Project Dashboard, to make the overall status of the Project immediately visible.