def METHOD_NAME():
    if version.parse(ELASTIC_VERSION) < version.parse('7.4.0'):
        return
    create_backup_body = {"type": "fs", "settings": {"location": "data"}}
    response = requests.put(
        '{}/_snapshot/my_repository?pretty'.format(INSTANCE['url']),
        json=create_backup_body,
        auth=(INSTANCE['username'], INSTANCE['password']),
        verify=False,
    )
    response.raise_for_status()
    create_slm_body = {
        "schedule": "0 30 1 * * ?",
        "name": "<daily-snap-{now/d}>",
        "repository": "my_repository",
        "config": {"indices": ["data-*", "important"], "ignore_unavailable": False, "include_global_state": False},
        "retention": {"expire_after": "30d", "min_count": 5, "max_count": 50},
    }
    response = requests.put(
        '{}/_slm/policy/daily-snapshots?pretty'.format(INSTANCE['url']),
        json=create_slm_body,
        auth=(INSTANCE['username'], INSTANCE['password']),
        verify=False,
    )
    response.raise_for_status()