A bypass valve, comprising: a main conduit , comprising a first section and a second section ; a mobile control shutter ; a bypass conduit which places the main conduit in communication with a discharge opening; a control element , mobile between a closed position, at which it closes the bypass conduit , and an open position, at which it opens the bypass conduit; a first piloting conduit , which places the first section in communication with a first piloting side of the control element , in order to pilot the control element towards the closed position; a second piloting conduit , which places the second section in communication with a second piloting side of the control element , in order to pilot the control element towards the open position; a throttle element , interposed between the first section and the second section , structured to produce a load loss which depends on the fluid flow rate in transit along the main conduit ; characterised in that : the control element is tubular-shaped and defines internally a section of the bypass conduit ; the control element is slidable along a housing provided with a sealing seat ; a passageway is predisposed between the control element and the housing which places the first section in communication with the second section ; in the closed position, the control element is in contact with the sealing seat and the shutter ; in the open position, the control element is detached from the sealing seat and frees the passageway , enabling a flow of fluid. a main conduit , comprising a first section and a second section ; a mobile control shutter ; a bypass conduit which places the main conduit in communication with a discharge opening; a control element , mobile between a closed position, at which it closes the bypass conduit , and an open position, at which it opens the bypass conduit; a first piloting conduit , which places the first section in communication with a first piloting side of the control element , in order to pilot the control element towards the closed position; a second piloting conduit , which places the second section in communication with a second piloting side of the control element , in order to pilot the control element towards the open position; a throttle element , interposed between the first section and the second section , structured to produce a load loss which depends on the fluid flow rate in transit along the main conduit ; characterised in that : the control element is tubular-shaped and defines internally a section of the bypass conduit ; the control element is slidable along a housing provided with a sealing seat ; a passageway is predisposed between the control element and the housing which places the first section in communication with the second section ; in the closed position, the control element is in contact with the sealing seat and the shutter ; in the open position, the control element is detached from the sealing seat and frees the passageway , enabling a flow of fluid. the control element is tubular-shaped and defines internally a section of the bypass conduit ; the control element is slidable along a housing provided with a sealing seat ; a passageway is predisposed between the control element and the housing which places the first section in communication with the second section ; in the closed position, the control element is in contact with the sealing seat and the shutter ; in the open position, the control element is detached from the sealing seat and frees the passageway , enabling a flow of fluid. <EOS>