The concept of raising a character's stats by using an item isn't entirely disallowed, per say, but I think there should be just a wee bit more explanation.
You'll have to go into how the character's abilities are increased. This seems to be creeping into the realm of "unexplained magic", and items like that just don't really exist in the One Piece universe, or on the site. If there was some sort of approved Devil Fruit, maybe. I just don't see an inanimate metal object being able to do such a thing.
I think the dial you're trying to refer to is the "reject dial". It absorbs energy then shoots it back out, injuring the user in the process.
The way this is now, I don't think you'd be able to make a Devil's Fruit of the ability approved. You'd have to get more in depth to how it works exactly.