Universal Panel Latch

I wanted a clip/latch which wouldn't make the job harder when removing the panels (by falling out of place). I looked on here but found nothing to my liking, so I created this latch.
Drilling a 1/4" hole through the panel (while making sure the hole is far enough over to allow the inside latch to clear the edge when turned) allows you to clip the two parts together. The outside knob should make contact with the outside wall so no matter which way it is turned (provided you drilled the hole cor