Talhoffer labels this plate Wechselhieb. Also spelled Wechselhauw, this is known in English as the Change Cut. As I understand it, the change cut is simply used to change from one side to the other or from low to high or vice-versa. Meyer states the purpose is to confuse the opponent, so I imagine a series of change cuts followed by a real attack to whatever opening is revealed.
The guard appears to be Wechsel or Change, which would be appropriate. Meyer has a good representation of this, though it seems he prefers a more forward stance.
This guard doesn’t seem to be as defensible as Alber (Fool) so I wouldn’t want to linger here. Like Langort (longpoint) I would only use this as a transitional posture.