S Biner Dipsey
Using the 2 different planer board releases works really well too and you can use any lead length you want to. Just have to pony up for the releases if you don't already have them. I use the OR-16's on my planer boards, so I can just filch a couple of those if need be.
My latest version with a couple of modifications from original: added a tether due to losing a setup. OR 16 red with pin on front attached to drop loop knot with 40' lead on 40# braid. OR 19 (heavy tension, no pin) on rear that will release from line to decrease drag just in case dipsy arm does not trip. I have some slack line between the release.
Why not just buy slide divers? I don't have to keep this on my rod when I store them. A number of extra pad releases left over when upgrading my board releases to OR 18s.