7 Node Cluster with 3 dedicated master and 4 data nodes

you should experiment, but still, try to get as close as you can to the recommended settings: balf the ram to eladtic, and no more than 30.5GB. as for the size of the indices you have, 5*1 sounds too much for the overall size of data you have. try to stick to 30gb - 50gb per shard, do the math accordingly.