What is the ruling on the the mentioned amulet (hirz) of Imam Ali ibn Abi Talib, and is it permissible to recite it?

The chain of transmission for this supplication formula is not authentically attributed to Ali (may Allah be pleased with him), nor does it resemble the supplications of the righteous predecessors (Salaf). It is circulated by the Rafidah (Shi'a), who are known for their fabrications, which indicates that it is an invented formula falsely attributed to him. Although it does not contain any objectionable words, a Muslim should adhere to what has been authentically established from the Prophet (peace be upon him) or the righteous predecessors regarding supplications and daily litanies. He should avoid innovative formulas to protect himself from innovations. For acts of worship are built upon divine injunctions and adherence, not upon whims and innovation. It is not permissible for anyone to prescribe for people un-prescribed remembrances and make them regular acts of worship, especially if they are a شعار (emblem or distinguishing mark) of the people of innovation and misguidance.