A shock absorber that combines both the suspension function and the shock absorbing function in one unit. It has an elongated shock body filled with hydraulic fluid and a piston mounted on a piston rod that reciprocally travels within the shock body. The shock body is telescopically received in a bypass cylinder body having a greater diameter that produces an annular chamber between the outer surface of the shock body and the inner surface of the bypass cylinder body. A coil spring is mounted on the outside surface of the bypass cylinder body to provide a suspension function by the shock absorber. A plurality of bypass tubes are associated with longitudinally spaced ports in the shock body. Adjuster rods are telescopically received inside the respective bypass tubes for controlling whether the individual ports are closed, partially open, or fully open. These adjuster rods would be manipulated externally of the shock absorber assembly.