by the surface area of the valve slide 1 first takes place before a release of the high pressure control edge 6 by the valve slide 1 can take place in order to allow the overflow of the high pressure control edge 6 from the high pressure connection p along the narrowed portion of the surface area of the valve slide 1 to the working connection a the overflow between the valve slide 1 and the valve sleeve 3 takes place radially and to some extent tangentially from the inside outward while via the radial issue of the high pressure connection p the pressure medium is first deflected axially in the narrowed portion along a circumferential groove of the valve slide 1 before it can flow out circularly between the valve slide 1 and the high pressure control edge 6 the length of the valve sleeve 3 is determined by the axial spacing between the low pressure and the high pressure control edges 5 6 with the result that the valve slide 1 is guided solely between the low pressure and the high pressure control edges 5 6 in the valve sleeve 3 this has the effect even in the case of a very narrow slide fit of an easy movability of the valve slide 1 which moreover is guided free of transverse forces in the valve sleeve 3 with precision the valve sleeve 3 is delimited on both sides of the low pressure and the high pressure control edges 5 6 by chambers 2 10 in the housing 4 which are of any desired selectable size as a result.