diff --git a/frontend/src/components/StrategyEditorPage.tsx b/frontend/src/components/StrategyEditorPage.tsx
index bfcf43e..bc34666 100644
--- a/frontend/src/components/StrategyEditorPage.tsx
+++ b/frontend/src/components/StrategyEditorPage.tsx
@@ -107,6 +107,7 @@ import {
   type StrategyFlowLayoutStore,
 } from '../utils/strategyEditorLayoutStorage';
 import LogicExpressionPreview from './strategyEditor/LogicExpressionPreview';
+import LogicExpressionNarrative from './strategyEditor/LogicExpressionNarrative';
 import StrategyEditorCanvas, { type FlowLayoutSeed } from './strategyEditor/StrategyEditorCanvas';
 import StrategyListEditor from './strategyEditor/StrategyListEditor';
 import StartCombineOpControl from './strategyEditor/StartCombineOpControl';
@@ -178,7 +179,7 @@ const RIGHT_PANEL_MAX = 560;
 const RIGHT_PANEL_DEFAULT = 380;
 const TERMINAL_MIN = 88;
 const TERMINAL_MAX = 420;
-const TERMINAL_DEFAULT = 140;
+const TERMINAL_DEFAULT = 220;
 
 function readRightPanelWidth(): number {
   return clampPanelSize(
@@ -2088,15 +2089,33 @@ export default function StrategyEditorPage({
           />
 
           <footer className="se-terminal" style={{ height: terminalHeight }}>
-            <div className="se-terminal-label">LOGIC EXPRESSION</div>
-            <LogicExpressionPreview
-              buyCondition={buyCondition}
-              sellCondition={sellCondition}
-              buyEditorState={buyEditorState}
-              sellEditorState={sellEditorState}
-              orphanCount={orphanTotal}
-              def={DEF}
-            />
+            <div className="se-terminal-scroll">
+              <section className="se-terminal-section">
+                <div className="se-terminal-label">LOGIC EXPRESSION</div>
+                <LogicExpressionPreview
+                  buyCondition={buyCondition}
+                  sellCondition={sellCondition}
+                  buyEditorState={buyEditorState}
+                  sellEditorState={sellEditorState}
+                  orphanCount={orphanTotal}
+                  def={DEF}
+                />
+              </section>
+              <section className="se-terminal-section se-terminal-section--narrative">
+                <div className="se-terminal-label se-terminal-label--guide">조건 설명</div>
+                <LogicExpressionNarrative
+                  name={stratName}
+                  description={stratDesc}
+                  buyCondition={buyCondition}
+                  sellCondition={sellCondition}
+                  buyEditorState={buyEditorState}
+                  sellEditorState={sellEditorState}
+                  orphanCount={orphanTotal}
+                  def={DEF}
+                  compact
+                />
+              </section>
+            </div>
           </footer>
           </div>
         </main>
diff --git a/frontend/src/components/StrategyEvaluationPage.tsx b/frontend/src/components/StrategyEvaluationPage.tsx
index 97c4575..7623404 100644
--- a/frontend/src/components/StrategyEvaluationPage.tsx
+++ b/frontend/src/components/StrategyEvaluationPage.tsx
@@ -4,6 +4,7 @@
 import '../styles/backtestDashboard.css';
 import '../styles/virtualTradingDashboard.css';
 import '../styles/strategyEditorTheme.css';
+import '../styles/strategyEditor.css';
 import '../styles/strategyEvaluation.css';
 import React, { useCallback, useEffect, useMemo, useRef, useState } from 'react';
 import type { Theme, Timeframe } from '../types';
@@ -20,6 +21,7 @@ import { resolveStrategyPrimaryTimeframe } from '../utils/strategyToChartIndicat
 import { fetchEvaluationSnapshotAtBar } from '../utils/strategyEvaluationSnapshot';
 import StrategyEvaluationSignalPanel from './strategyEvaluation/StrategyEvaluationSignalPanel';
 import StrategyEvaluationChart from './strategyEvaluation/StrategyEvaluationChart';
+import StrategyEvaluationConditionPanel from './strategyEvaluation/StrategyEvaluationConditionPanel';
 import StrategyEvaluationSettingsTab from './strategyEvaluation/StrategyEvaluationSettingsTab';
 import StrategyEditorModal from './strategyEvaluation/StrategyEditorModal';
 import SePanelCollapseHandle from './strategyEditor/SePanelCollapseHandle';
@@ -484,6 +486,11 @@ export default function StrategyEvaluationPage({ theme = 'dark' }: Props) {
               evalLoading={evalLoading}
               onSignalsChange={handleSignalsChange}
             />
+            <StrategyEvaluationConditionPanel
+              strategy={selectedStrategy}
+              getParams={baseGetParams}
+              appliedParams={appliedIndicatorParams}
+            />
           </div>
         </main>
 
diff --git a/frontend/src/components/strategyEditor/LogicExpressionNarrative.tsx b/frontend/src/components/strategyEditor/LogicExpressionNarrative.tsx
new file mode 100644
index 0000000..117bb51
--- /dev/null
+++ b/frontend/src/components/strategyEditor/LogicExpressionNarrative.tsx
@@ -0,0 +1,104 @@
+/**
+ * LOGIC EXPRESSION 아래 — 조건을 알기 쉬운 문장으로 설명
+ */
+import React, { useMemo } from 'react';
+import type { LogicNode } from '../../utils/strategyTypes';
+import type { DefType } from '../../utils/strategyEditorShared';
+import {
+  buildStrategyNarrative,
+  type StrategyDescriptionInput,
+} from '../../utils/strategyDescriptionNarrative';
+import type { EditorConditionState } from '../../utils/strategyConditionSerde';
+import { emptyEditorConditionState } from '../../utils/strategyConditionSerde';
+
+interface Props {
+  name?: string;
+  description?: string;
+  buyCondition: LogicNode | null;
+  sellCondition: LogicNode | null;
+  buyEditorState?: EditorConditionState;
+  sellEditorState?: EditorConditionState;
+  orphanCount?: number;
+  def: DefType;
+  /** 터미널·하단 패널 등 좁은 공간 — 서두·각주 생략, 핵심 bullet 위주 */
+  compact?: boolean;
+  className?: string;
+}
+
+export default function LogicExpressionNarrative({
+  name,
+  description,
+  buyCondition,
+  sellCondition,
+  buyEditorState,
+  sellEditorState,
+  orphanCount,
+  def,
+  compact = false,
+  className,
+}: Props) {
+  const input: StrategyDescriptionInput = useMemo(() => ({
+    name,
+    description,
+    buyEditorState: buyEditorState ?? emptyEditorConditionState(),
+    sellEditorState: sellEditorState ?? emptyEditorConditionState(),
+    buyCondition,
+    sellCondition,
+    orphanCount,
+    def,
+  }), [
+    name,
+    description,
+    buyEditorState,
+    sellEditorState,
+    buyCondition,
+    sellCondition,
+    orphanCount,
+    def,
+  ]);
+
+  const narrative = useMemo(() => buildStrategyNarrative(input), [input]);
+
+  const rootClass = ['se-narrative', compact ? 'se-narrative--compact' : '', className]
+    .filter(Boolean)
+    .join(' ');
+
+  return (
+    <div className={rootClass}>
+      {!compact && narrative.intro.map((p, i) => (
+        <p key={`intro-${i}`} className="se-narrative-intro">{p}</p>
+      ))}
+
+      {narrative.sections.map(section => (
+        <section key={section.title} className="se-narrative-section">
+          <h4 className="se-narrative-section-title">{section.title}</h4>
+          {!compact && section.paragraphs.map((p, i) => (
+            <p key={`${section.title}-p-${i}`} className="se-narrative-para">{p}</p>
+          ))}
+          {compact && section.paragraphs.length > 0 && (
+            <p className="se-narrative-para se-narrative-para--lead">
+              {section.paragraphs[section.paragraphs.length - 1]}
+            </p>
+          )}
+          {section.bullets && section.bullets.length > 0 && (
+            <ul className="se-narrative-list">
+              {section.bullets.map((line, i) => (
+                <li key={`${section.title}-b-${i}`} className="se-narrative-list-item">{line}</li>
+              ))}
+            </ul>
+          )}
+        </section>
+      ))}
+
+      {narrative.footnotes.length > 0 && (
+        <footer className="se-narrative-footnotes">
+          {narrative.footnotes.map((note, i) => (
+            <p key={`fn-${i}`} className="se-narrative-footnote">
+              {compact ? note : `※ ${note}`}
+            </p>
+          ))}
+        </footer>
+      )}
+    </div>
+  );
+}
diff --git a/frontend/src/components/strategyEvaluation/StrategyEvaluationConditionPanel.tsx b/frontend/src/components/strategyEvaluation/StrategyEvaluationConditionPanel.tsx
new file mode 100644
index 0000000..4846be5
--- /dev/null
+++ b/frontend/src/components/strategyEvaluation/StrategyEvaluationConditionPanel.tsx
@@ -0,0 +1,92 @@
+/**
+ * 전략 평가 — 중앙 하단 LOGIC EXPRESSION + 조건 설명
+ */
+import React, { useCallback, useMemo } from 'react';
+import type { StrategyDto } from '../../utils/backendApi';
+import { asLogicNode } from '../../utils/strategyHydrate';
+import { decodeConditionForEditor } from '../../utils/strategyConditionSerde';
+import { buildDefFromGetParams } from '../../utils/strategyEditorShared';
+import LogicExpressionPreview from '../strategyEditor/LogicExpressionPreview';
+import LogicExpressionNarrative from '../strategyEditor/LogicExpressionNarrative';
+import type { EvalIndicatorParams } from '../../utils/strategyEvaluationParams';
+
+interface Props {
+  strategy: StrategyDto | null;
+  getParams: (type: string) => Record<string, number | string | boolean>;
+  appliedParams: EvalIndicatorParams | null;
+}
+
+const StrategyEvaluationConditionPanel: React.FC<Props> = ({
+  strategy,
+  getParams,
+  appliedParams,
+}) => {
+  const resolveGetParams = useCallback(
+    (type: string, defaults?: Record<string, number | string | boolean>) => {
+      const base = getParams(type);
+      const merged = defaults ? { ...defaults, ...base } : base;
+      const override = appliedParams?.[type];
+      return override ? { ...merged, ...override } : merged;
+    },
+    [getParams, appliedParams],
+  );
+
+  const def = useMemo(() => buildDefFromGetParams(resolveGetParams), [resolveGetParams]);
+
+  const buyCondition = useMemo(
+    () => (strategy ? asLogicNode(strategy.buyCondition) : null),
+    [strategy?.buyCondition],
+  );
+  const sellCondition = useMemo(
+    () => (strategy ? asLogicNode(strategy.sellCondition) : null),
+    [strategy?.sellCondition],
+  );
+
+  const buyEditorState = useMemo(
+    () => decodeConditionForEditor(buyCondition),
+    [buyCondition],
+  );
+  const sellEditorState = useMemo(
+    () => decodeConditionForEditor(sellCondition),
+    [sellCondition],
+  );
+
+  if (!strategy || (!buyCondition && !sellCondition)) {
+    return (
+      <div className="seval-condition-panel seval-condition-panel--empty">
+        <p className="seval-condition-panel-empty">전략을 선택하면 조건식과 설명이 표시됩니다.</p>
+      </div>
+    );
+  }
+
+  return (
+    <div className="seval-condition-panel">
+      <section className="seval-condition-panel-section">
+        <div className="seval-condition-panel-label">LOGIC EXPRESSION</div>
+        <LogicExpressionPreview
+          buyCondition={buyCondition}
+          sellCondition={sellCondition}
+          buyEditorState={buyEditorState}
+          sellEditorState={sellEditorState}
+          orphanCount={0}
+          def={def}
+        />
+      </section>
+      <section className="seval-condition-panel-section seval-condition-panel-section--narrative">
+        <div className="seval-condition-panel-label seval-condition-panel-label--guide">조건 설명</div>
+        <LogicExpressionNarrative
+          name={strategy.name}
+          description={strategy.description}
+          buyCondition={buyCondition}
+          sellCondition={sellCondition}
+          buyEditorState={buyEditorState}
+          sellEditorState={sellEditorState}
+          def={def}
+          compact
+        />
+      </section>
+    </div>
+  );
+};
+
+export default StrategyEvaluationConditionPanel;
diff --git a/frontend/src/styles/strategyEditor.css b/frontend/src/styles/strategyEditor.css
index 4581423..f8c4206 100644
--- a/frontend/src/styles/strategyEditor.css
+++ b/frontend/src/styles/strategyEditor.css
@@ -1552,7 +1552,18 @@
   border-radius: 0;
   background: var(--se-terminal-bg);
   overflow: hidden;
-  min-height: 88px;
+  min-height: 120px;
+}
+.se-terminal-scroll {
+  flex: 1;
+  min-height: 0;
+  overflow-y: auto;
+}
+.se-terminal-section + .se-terminal-section {
+  border-top: 1px solid var(--se-border);
+}
+.se-terminal-section--narrative {
+  background: color-mix(in srgb, var(--se-terminal-bg) 88%, var(--se-gold) 12%);
 }
 .se-terminal-label {
   flex-shrink: 0;
@@ -1563,6 +1574,9 @@
   padding: 6px 12px;
   border-bottom: 1px solid var(--se-border);
 }
+.se-terminal-label--guide {
+  color: color-mix(in srgb, var(--se-gold) 85%, var(--se-text) 15%);
+}
 .se-terminal-text {
   flex: 1;
   min-height: 0;
@@ -2626,3 +2640,64 @@ body.se-palette-drag-armed .se-palette-section--scroll {
   color: var(--se-text-muted);
   line-height: 1.5;
 }
+
+/* ── Terminal narrative (조건 설명) ── */
+.se-narrative {
+  padding: 10px 14px 12px;
+  font-size: 0.8rem;
+  line-height: 1.55;
+  color: var(--se-text);
+}
+.se-narrative--compact {
+  padding: 8px 14px 10px;
+  font-size: 0.78rem;
+}
+.se-narrative-intro {
+  margin: 0 0 8px;
+  color: var(--se-text-muted);
+}
+.se-narrative-section + .se-narrative-section {
+  margin-top: 10px;
+  padding-top: 8px;
+  border-top: 1px dashed var(--se-border);
+}
+.se-narrative-section-title {
+  margin: 0 0 6px;
+  font-size: 0.72rem;
+  font-weight: 700;
+  letter-spacing: 0.04em;
+  color: var(--se-gold);
+}
+.se-narrative-para {
+  margin: 0 0 6px;
+  color: var(--se-text-muted);
+}
+.se-narrative-para--lead {
+  font-size: 0.76rem;
+}
+.se-narrative-list {
+  margin: 4px 0 0;
+  padding: 0 0 0 1.1em;
+  list-style: none;
+}
+.se-narrative-list-item {
+  margin: 3px 0;
+  padding-left: 2px;
+  white-space: pre-wrap;
+  word-break: keep-all;
+  color: var(--se-text);
+}
+.se-narrative-footnotes {
+  margin-top: 8px;
+  padding-top: 6px;
+  border-top: 1px dashed var(--se-border);
+}
+.se-narrative-footnote {
+  margin: 3px 0 0;
+  font-size: 0.72rem;
+  color: var(--se-text-muted);
+  line-height: 1.45;
+}
+.se-narrative--compact .se-narrative-footnotes {
+  display: none;
+}
diff --git a/frontend/src/styles/strategyEvaluation.css b/frontend/src/styles/strategyEvaluation.css
index ed7f614..527e114 100644
--- a/frontend/src/styles/strategyEvaluation.css
+++ b/frontend/src/styles/strategyEvaluation.css
@@ -428,6 +428,61 @@
   font-variant-numeric: tabular-nums;
 }
 
+/* ── 중앙 하단 — LOGIC EXPRESSION + 조건 설명 ── */
+.seval-condition-panel {
+  flex-shrink: 0;
+  max-height: min(38vh, 320px);
+  margin-top: 6px;
+  border: 1px solid var(--se-terminal-border, rgba(255, 255, 255, 0.08));
+  border-radius: 8px;
+  background: var(--se-terminal-bg, color-mix(in srgb, var(--bg) 92%, #000));
+  overflow: hidden;
+  display: flex;
+  flex-direction: column;
+}
+.seval-condition-panel--empty {
+  max-height: none;
+  padding: 12px 14px;
+}
+.seval-condition-panel-empty {
+  margin: 0;
+  font-size: 0.8rem;
+  color: var(--se-text-muted);
+}
+.seval-condition-panel-section {
+  flex-shrink: 0;
+  min-height: 0;
+  overflow-y: auto;
+}
+.seval-condition-panel-section--narrative {
+  flex: 1;
+  min-height: 0;
+  border-top: 1px solid var(--se-border);
+  background: color-mix(in srgb, var(--se-terminal-bg, var(--bg)) 88%, var(--se-gold, #c9a227) 12%);
+}
+.seval-condition-panel-label {
+  position: sticky;
+  top: 0;
+  z-index: 1;
+  font-size: 0.62rem;
+  font-weight: 800;
+  letter-spacing: 0.14em;
+  color: var(--se-terminal-label, var(--se-text-muted));
+  padding: 6px 12px;
+  border-bottom: 1px solid var(--se-border);
+  background: inherit;
+}
+.seval-condition-panel-label--guide {
+  color: color-mix(in srgb, var(--se-gold, #c9a227) 85%, var(--se-text) 15%);
+}
+.seval-condition-panel .se-terminal-text {
+  max-height: 120px;
+}
+.seval-condition-panel .se-narrative--compact {
+  max-height: 160px;
+  overflow-y: auto;
+}
+
 /* ── 세로 선택바 ─────────────────────────────────────────────────────────── */
 .seval-bar-selector-layer {
   position: absolute;