The UFO LED chaser is basically circuit sequence of led which blinks one by one.Here are the working snaps of mine one.

Step 1: Step 1: Things Required

PCB board

NE555 timer IC

CD4017 counter IC (with base preferably)

LEDs (total 20)

Red,Green,Blue,Yellow (any four color)

soldering iron

power led any color

capacitor 1uf/25v

resistance 100ohms/330ohm (total 21) , 1.5 K , 100K POT

PCB etching material

Step 2: Step 2: Fabrication and Mounting

PDF of PCB lay out is attached with this.. The round one is displaying unit which contains 20 leds, 330E resistance for each led , 2 CD4017 IC's The next one is controlling unit which generated clock cycles with the help of 555 IC.. The speed of led can be controlled by varying the pot's position. Combining the will give you simple circuit of a LED chaser using CD 4017 IC. 4017 is a CMOS decade counter IC. It is also called Counter or Divider. With the help of this chip you can easily build a nice LED chasing effects. This IC has 10 outputs to which we have connected 10 LEDs in the given circuit. The max current on per output is 15mA, therefore do not use LEDs with current ratings more than 15mA. The circuit can be run with a 9 volt battery or power supply.