Balancing: I’ve reworded things a few times from my earliest draft, and compared to the effects of other feats.

The first point works a bit like Polearm Master, in that it enhances the chance for an opportunity attack. Unlike PM, it doesn’t change the rules for how opportunity attacks are provoked, and it certainly doesn’t offer bonus attacks. In fact, it doesn’t interact with Multiple Attacks at all. A hopefully elegant solution that is certainly weaker than it’s parent feat. 

The second point is just directly lifted from the Charger feat; only without the push effect, and limited to a single melee weapon. Charger is generally considered to be one of the weaker feats, because you give up more attacks (and damage potential) as you level up. But combat is dynamic, and an imperfect tool that lets you reposition is better than none at all. A character that wants to Push enemies, or who plans to dash with smaller weapons would still want Charger (to the extent anyone does) instead of this. 

The third point is just the cherry on top, a relatively fringe benefit that won’t even come up in most conditions. But it’s very thematically sound that a character holding six feet of tempered steel would use it to protect themselves. The key detail to keep in mind is “wielding”; a character wouldn’t get the benefit if he ended his turn on a rope ladder or holding a lantern, but would if his action was to drink a potion or make the aforementioned Dash. By design, a character will get the +1 AC, or multiple attacks, but never both. 

The last point is kinda worthless.
It is subpar to the dodge action, except for extremely constructed edge cases.

It stacks with the benefit from Dodge, and works on rounds where you Dash. I freely admit it's a rare scenario.

I'm open to hearing any alternate suggestions for a passive parry.

I think I must have misread it. Apologies

This is pretty good and balanced

Third point, do you still get a +1 AC if you used the second point? You said that so long as you dont use your action to attack, does that also include the bonus action part of the second point?

Vidatchi,

Yeah, I specifically wrote it that way. Because it's a bonus action and not an Attack action, you still retain enough presence of mind for a partial parry. That's another incentive to use the dash attack, when you might be losing a multiattack with thrown weapons etc.

This feat is so damn good, I'm surprised it's not an official feat in any book. This feat can even be a 11th and above ability for Fighter, Barbarian, and even Monk. Fantastic job, would love to see more ideas you have

Thank you for your compliments, and I hope it has served you well. This is my only feat, but I come back to add magic items from time to time.