The intelligence of hydraulic roof support is an important guarantee for unmanned fully mechanized coal mining face. The water-based medium proportional directional valve is the main factor that restricts the intelligent realization of support system. The support control valve needs to meet the 2/3 (two-position three-way) structure, taking into account both manual and electro-hydraulic control functions. The current water-based proportional valve does not satisfy the structural or functional demands of the support system. In this paper, a novel 2/3 water-based proportional directional valve is presented based on the displacement-flow feedback principle, which has two control modes: manual on-off control and electro-hydraulic proportional control. The proportional valve comprises two main valve spools and two pilot valves. The pilot valve is composed of a 2/3 on-off valve with manual operation capability and a high-speed switching valve group controlled by PWM (Pulse Width Modulation). The mathematical model of the proportional valve is established, and the experimental system is built to verify the characteristics of proportional valve. The proportional valve can meet the special functional requirements of the support. In the proportional control mode, the adjustment of spool displacement is regulated through the modulation of PWM duty ratio, resulting in effective control performance of the proportional valve. Furthermore, the discontinuous flow of the high-speed switching valve causes the pressure fluctuation of the pilot hydraulic bridge. Increasing the carrier frequency of PWM can reduce the amplitude of control chamber pressure and spool displacement fluctuation. The findings of the study can offer valuable insights for the continued advancement and enhancement of water-based proportional valves used in hydraulic roof support systems.