Actually, I see that there is already Code Navigation History, it should save the location before code navigation, maybe it can be merged with the new system, or even the new system can be built atop of it.
Quite frankly I don't think two systems will interact well, navigation history saves positions of symbol navigation actions, ie things it can clearly identify with a navigation action, and AFAICT it does store the location before the navigation action.
If somebody examined what other editors do and implemented it and provided a pull request then it can be trialled and issues like interactions between the systems evaluated.