Magic Protection Enchant

This would be an enchantment, along the lines of Prot., Proj. Prot. and Fire Prot. But instead of protecting you from physical damage, it would protect you from magic damage.

This could protect you from the Ender Dragon's breath, splash potions, tipped arrows, the wither effect, etc. This would be very helpful but at the expense of lower physical defense.

This would come in enchantment levels from I- V, and would not be compatible with other protection enchantments.

Magic items are OP! This would be a way to diversify armor enchantments and make magic items less OP!

I realize in retrospect that a few people have already had this idea, but I just wish to add to its popularity in a more in-depth post.