Fixes #4169 and also now overscroll indicator is dismissed the moment
user scrolls in the opposite direction (#4603) but the bounce overscroll
that happens behind the scene and is clamped in the indicator is still
problematic and needs to be fixed. However these fixes are orthogonal to that.

Also closes #4127 as I verified the timeout feature (reduced the duration
to 500ms to be closer to Android behaviour)