Indicator species are widely used in ecology and conservation, yet many existing approaches rely on habitat-specific diagnostics, expert opinion, or metrics that conflate conservation value with species richness. Moreover, few indicator frameworks explicitly integrate threatened species or account for the strong sampling biases inherent in large, opportunistic biodiversity databases. Here RedIndVal is introduced, a composite, per-species indicator metric designed to identify species whose occurrence reliably indicates local communities of elevated biodiversity and conservation value. RedIndVal integrates three independent components: (i) exceedance-based co-occurrence with red-listed species, (ii) exceedance-based co-occurrence with Natura 2000–relevant taxa, and (iii) habitat specificity. All components are estimated using effort-stratified baselines and robust, median-based standardization to control for heterogeneous sampling intensity. RedIndVal was operationalised using more than 115 million occurrence records from the Swedish Species Observation System, analysing 2,786 candidate indicator species across vascular plants, fungi, butterflies, and wasps. The method was evaluated using four complementary validation strategies: known-groups discrimination, locality-level predictive performance, species-level gradient behaviour, and independence from classical diversity metrics. Species independently designated as associated with Natura 2000 habitats exhibited significantly higher RedIndVal scores than common-habitat species. Localities containing at least one high-RedIndVal species consistently showed higher conservation value than effort-matched controls, and conservation metrics increased monotonically across RedIndVal deciles. RedIndVal extends established indicator frameworks by integrating conservation status, policy relevance, and ecological specificity within a transparent, scalable, and empirically validated framework. The approach demonstrates that large, citizen-science–derived occurrence datasets can support robust indicator development and provides a transferable tool for biodiversity monitoring, conservation planning, and site prioritisation.