Reading from an XTM18SA DIN rail single phase two wire energy meter

Hi folks. I just installed a cheap XTM18SA DIN rail single phase two wire energy meter in my workshop's circuit, with the intention of monitoring the power consumption.

It claims to output a digital signal of 2000 pulses per kWh, so about 0.5 Wh per pulse.

The instructions are a bit vague as to how to connect it up, with no sample diagrams or specifics, just the comment:

manual:
The XTM1D V1.1 DIN rail energy meter is equipped with a pulse output which is fully separated from the inside circuit. That generates pulses in proportion to the measured energy for remote reading purposes and accuracy testing. The pulse output is a polarity dependant, passive transistor output requiring an external voltage source for correct operation. For this external voltage source, the voltage (Ui) should is 5-27V DC, and the maximum input current (Iimax) is 27mA DC. To connect the impulse output, connect 5-27V DC to connector 20 (anode), and the signal wire (S) to connector 21 (cathode). The meter pulses 2000 per kWh (0.5Wh/imp).

So, what I did was this:

I am using pin 3 on an "Arduino Compatible" Pro Micro until I can find a chunky USB cable for my old official Uno to test.

When I try to digitalRead the pin, I'm getting very inconsistent results. Usually it just sits at 0. I tried it using Interrupts, and it didn't seem to register any actions at all.

If I try analogRead, I get a signal that seems to oscillate between about 200 and 250.
This was the result of performing the analogRead in the main loop and spitting out the value:

Has anyone else tried to interface with this sort of meter before? I'll try and use a more standard Arduino in a few days when I'm back at the workshop, but I thought I'd ask first to see if anyone has got it working already.

Forgot to mention - don't read too much into the symbol choice for that transistor inside the meter - I just picked a generic symbol, and it could be anything in there...

You might try 5V to pin 20, 10k from pin 21 to GND, signal from pin 21. Any idea how wide the pulse is supposed to be?