I made a parry system for my MUGEN critters. It works similar to Smash Ultimate, where the parry occurs when hit just as you release the guard button.
Parry cannot happen if hit in the guard state, untill guard is dropped and brought back up, though I may add a timer mechanic to this for gettin hit or pressing/releasing the button too often.
All of my characters to come will have this ability, not just Gejhi here. I figure it's a good idea to add in more defesive tactices since my character have limited "blocking HP" along with the ability to spend meter to try gettin out of block-stun.
In the video linked, I showed a few different Phantom Kicks to show the timing. This gif files just shows it being perfectly parried.