A system, method and computer program product for executing a cache replacement algorithm. A system includes a computer processor having an instruction processor, a cache and one or more useful indicators. The instruction processor processes instructions in a running program. The cache includes two or more cache levels including a level one (L1) cache level and one or more higher cache levels. Each cache level includes one or more cache lines and has an associated directory having one or more directory entries. A useful indicator is located within one or more of the directory entries and is associated with a particular cache line. The useful indicator is set to provide an indication that the associated cache line contains one or more instructions that are required by the running program and cleared to provide lack of such an indication.