I have an application where I need to add a cylinder that constantly goes back and forth to divert product, but uses no prox switches, only time base.
I thought about just using a timer then latching and unlatching it with a second timer, each done bit firing opposing sides of the cylinder air...
Some 4-20 mA loops are powered from your PLC card, some are externally powered, in any case they should not be "GROUNDED" they would be what you are thinking of as a floating common. If you set your multimeter to read mA, and connect one lead to the 24VDC positive then the other lead to the PH...