I am going to use a 5-pin switch with has 4 modes of operations as shown in the above image. By using this switch I will be able to operate the LED in the following modes:

Mode-1: ON - High Intensity

Mode-2: ON - Medium Intensity

Mode-3: ON - Low Intensity

Mode-4: OFF - Turn Off the LED

Earlier I have used a 3-pin button switch for 3 different modes of operation as given below. 

Mode-1: ON - High Intensity

Mode-2: ON - Low Intensity

Mode-3: OFF - Turn Off the LED