"quadratize"/square/equalize selection

There's circularize to make a selection circular, but I wondered, if there is a way to make a selection squared, just like with circularize, but the result would be 4 straight selection borders, equal length, 90 degrees angles. And by dragging the mouse you would determine the amount of quadratization and maybe somehow the orientation by holding spacebar and dragging or so. If it can't be done, I should put it in requests.

You can use the "Circularize_Selection_Spline" basic streamline tool.

Thanks for the tip! I tried that, but it's not working for multiple selections as does the regular circularize. I also can't change the size of the square because it will snap to the spline's dimensions. I didn't mention the scaling before.