English term (edited): (ring) advance / return valve

It all depends on the overall context: what KIND of ring is 'this'? On that in turn depends what verb suits the movement — 'advance' means 'move forward / out', so various verbs might suit in FR, depending on the kind of action it is.
In this sort of context, 'return' would normally mean 'pull back in / withdraw' — the use of this pairing of verbs in EN tends to suggest that 'advance' is the 'out' or 'working' position, whereas 'return' or 'back in' tends to imply this is the resting / protected / shielded position (e.g. cutting blade sheathed); hence I would tend to use a comparable pairing in FR.