Systems and methods include a method for optimizing smart well completions using real-time nodal analysis including recommending changes to downhole settings. Real-time well rates and flowing bottom-hole pressure data at various choke settings for multiple flow conditions are collected for each lateral of a multilateral well. Recommended optimizing changes to downhole inflow control valve (ICV) settings for surface and subsurface ICVs are determined based on the real-time well rates and the flowing bottom-hole pressure data. The optimizing changes are designed to optimize production in the multilateral well. The recommended optimizing changes to the downhole ICV settings for the surface and subsurface ICVs in the laterals are provided for presentation to a user in a user interface of a multilateral well optimizing system. A user selection of one or more of the recommended optimizing changes is received. The recommended optimizing changes selected by the user are implemented.