A hydraulic valve comprising a body in which a bore is formed in order to receive a sleeve that includes sealing seats that cooperate with a wall of the bore to define hydraulically isolated chambers (10, 20, 30, 40) that are connected to hydraulic ports (C1, C2, P, R) in the body, the sleeve including connection holes (11, 21, 31, 41) in order to connect at least certain chambers with the inside of the sleeve and receiving a movable element that is slidable between a first end position and a second end position via an intermediate position, said movable element comprising fitted portions (51, 52, 53) each adapted in order to slide in leaktight manner against an inside wall of the sleeve, two of said chambers (10, 20) being adjacent, said adjacent chambers (10, 20) being selectively: - put into communication when said movable element is moved in any of said first or second end positions by a first and a second connection holes respectively opening out in said adjacent chambers (10, 20); - isolated from each other by one fitted portion of said movable element when said movable element is in said intermediate position, characterized in that: - the sleeve includes at least a first regulator hole that opens out inside a first one of said two adjacent chambers (10, 20); and in that - said fitted portion isolating the adjacent chambers from each other when said movable element is in said intermediate position, includes face portions each presenting a setback (55, 56), said setbacks (55, 56) being disposed in order to pass over the first regulator hole when the movable element is moved between its first and second end positions; and in that - said first regulator hole opens out inside the sleeve in such a manner as: - the first regulator hole is obstructed after the first connection hole by said fitted portion presenting said setbacks when said movable element slides from said first end position to said intermediate position; and in that - the first regulator hole is uncovered before the first connection hole by said fitted portion presenting said setbacks when said movable element slides from said intermediate position to said first end position. - put into communication when said movable element is moved in any of said first or second end positions by a first and a second connection holes respectively opening out in said adjacent chambers (10, 20); - isolated from each other by one fitted portion of said movable element when said movable element is in said intermediate position, characterized in that: - the sleeve includes at least a first regulator hole that opens out inside a first one of said two adjacent chambers (10, 20); and in that - said fitted portion isolating the adjacent chambers from each other when said movable element is in said intermediate position, includes face portions each presenting a setback (55, 56), said setbacks (55, 56) being disposed in order to pass over the first regulator hole when the movable element is moved between its first and second end positions; and in that - said first regulator hole opens out inside the sleeve in such a manner as: - the first regulator hole is obstructed after the first connection hole by said fitted portion presenting said setbacks when said movable element slides from said first end position to said intermediate position; and in that - the first regulator hole is uncovered before the first connection hole by said fitted portion presenting said setbacks when said movable element slides from said intermediate position to said first end position. - the sleeve includes at least a first regulator hole that opens out inside a first one of said two adjacent chambers (10, 20); and in that - said fitted portion isolating the adjacent chambers from each other when said movable element is in said intermediate position, includes face portions each presenting a setback (55, 56), said setbacks (55, 56) being disposed in order to pass over the first regulator hole when the movable element is moved between its first and second end positions; and in that - said first regulator hole opens out inside the sleeve in such a manner as: - the first regulator hole is obstructed after the first connection hole by said fitted portion presenting said setbacks when said movable element slides from said first end position to said intermediate position; and in that - the first regulator hole is uncovered before the first connection hole by said fitted portion presenting said setbacks when said movable element slides from said intermediate position to said first end position. - the first regulator hole is obstructed after the first connection hole by said fitted portion presenting said setbacks when said movable element slides from said first end position to said intermediate position; and in that - the first regulator hole is uncovered before the first connection hole by said fitted portion presenting said setbacks when said movable element slides from said intermediate position to said first end position.