Auto-hide dock with a keyboard shortcut

I like mac os dock, but sometimes when I need more of my screen I hide it. Before (I don't know up to which version exactly) one can change dock properties directly from apple icon on top left. Not anymore :(. Now to do that you need to open System preferences, select dock and select or unselect "Automatically hide and show the Dock". As you can see it is a lot of steps. Luckily there is a shortcut for that and it is command+option+D.