Hi, OP!
I went through this thread on my long search for this functionality (which should be in all stock ROMs in my opinion). Great minds think alike. Hope this helps you.
I think I found the solution to your original question. It's an app by Oskari Anttalainen called Combination Lock. It's an unlock screen / screenguard replacement with the following crucial features:
*)Unlock screen by a pre-recorded button combination of your choice (I use <vol down><vol down>). Note, that some buttons, such as PWR cannot be used.
*)Wake on any button. A pleasant surprise indeed. What this means, is that you can bypass all intermediary lock screens by entering combination directly in deep sleep. I don't think there is a faster way to return from sleep (
Except possibly by disabling lock altogether, with NoLock or such, but we still _do_ want a key/screen guard, right? In fact, you should compare CL and NoLock to see if there's any overhead at all. I think there is none).
You can use CL as a security lock, by _not_ printing unlock combination on intermediary screen

and using a non-trivial combination.
EDIT
Link to free version (ads,
not sure about limitations no limitations.)
https://play.google.com/store/apps/details?id=com.aoa.CombinationLockFree&hl=en
Add: PowerCall was mentioned. I tried this app. Not great; it pauses a while on stock lock screen. For the OP's question, Combination Lock is better in every way.