I'm not sure what's it called, but there is a bar window underneath the editor window, above the Debug/Terminal/Console windows, which shows on what indent / frame / layer you are currently at (with the cursor).
It's pretty redundant to me and catching up a full wide-screen line for me..
See that line:
Level1 > Level2() > Level3() > for Level4 in range(5)
How do I get rid of it?
The breadcrumbs in the editor can be enabled or disabled, per language, checking the box at File > Settings > Editor > General > Breadcrumbs > Show breadcrumbs.
Placing the breadcrumbs at the top or bottom of the editor can be adjusted on the same page choosing Placement option with Top or Bottom.
This is shown in the below screenshot, see also the PyCharm documentation Breadcrumbs
