An assembly for hoisting and lowering a drill string of a drilling rig includes a multiple displacement hydraulic cylinder having a blind end, a rod end, and a single piston rod configured for slidable extension and retraction movement within the interior space of the cylinder. The interior space is defined by three chambers, each chamber having a port allowing switchable flow of hydraulic fluid into and out from the cylinder. The assembly also includes a pumping and switching system with hydraulic fluid connections to each port of the cylinder. The pumping and switching system is configured to switch the direction of hydraulic fluid flow through each of the ports of the three chambers, thereby providing the assembly with a plurality of hydraulic fluid flow path combinations. Each flow path combination provides a different speed-to-force ratio for extending or retracting the piston rod, thereby hoisting or lowering the drill string.