I don't know Meyer that good but my understanding is that Meyer's HangingPoint guard, like his Key guard, is an variation of Ochs.
And that's what I said about hanging point being a variation of ochs just as iron door is a variation on abler.
But is this same text, or following texts, saying that you should actually stop in HangingPoint?
I think it says it in the text I quoted. You execute a series of attacks and then adopt the guard of hanging point until you have decided how you are going to attack next. It is okay to 'stop' in hanging point only in as much as it is okay to 'stop' in any other guard. You shouldn't just stop and wait in hanging just like you shouldn't stop and wait in ochs. But you should always be in a guard.
Here is another passage which I should have started with instead of the one I did. Forgeng, page 54:
"Hanging Point
The figure on the right in the same image [F] teaches you how to execute the Hanging Point, except that it does not show the arms extended enough. Therefore position yourself in this guard thus: stand with your right foot forward, and hold your weapon with arms extended in front of you such that the blade hangs somewhat down toward the ground. This position is quite similar to the Ox, except that in the Ox you hold the arms vertically, but here they shall be extended forward in front of your face, and you let the sword hang toward the ground, which is why it is called Hanging Point."
So Meyer even makes the connection that it is very similar to ochs.
Another relevant passage would be Meyer's introduction to his section on guards. Forgeng, page 52-53. There, Meyer states that zufechten (the beginning of the fight) is composed of two elements, guards and cuts. He says that you put yourself into a guard at the beginning of the fight and then lists all of the guards. He does say that there are four primary guards and the rest are derived from them, but this doesn't mean that the secondary guards function any different from the primary guards. The secondary guards are
not only middle or ending positions of a strike or device. They are legitimate
guards in their own right.