Armor temperature meter?

What does it mean when the armor is on the snowflake or sun icon and has 1 bar filled? Does that mean it will barely protect you from the cold and heat respectively? Is that explained somewhere on this site?

Armor will protect you from either Heat or Cold

Heat resistance has the Sun icon
Cold resistance has the Snowflake

All armor only shows one bar as far as I can tell but I know for a fact that all armor is not equal in temperature protection.

For example
Vanir Heavy Armor at both normal level and Epic Flawless both show one pip of cold protection but the latter is way better at protecting you against cold (as in I can wonder around the snows all day and not go beyond just getting the cold warning.

The two cancel each other out if you mix and match as well, so if you are wearing three heat prot bits and two cold prot bits your overall temperature resistance is one heat resistance. Bearing this in mind when choosing your armor.

Hope this helps.