the above picture shows the cylinder , 3 port valve and pump in my central heating/hot water system .I have an indirect coil type cylinder, with connections as shown in the diagram, with the heated water from the boiler flowing through these connections.i have no idea what what this mystery valve does as it appears to do nothing.its been suggested to me that this is a " balancer valve"( i just smiled and nodded politely)can anyone out there tell me what it is and what position it should be in (open or closed)
cheers in advance.