diff --git a/README.md b/README.md
index f7f5136..ab47ec2 100644
--- a/README.md
+++ b/README.md
@@ -80,7 +80,7 @@ The following list of indicators are currently supported by this package:
 - Keltner Channel (KC)
 - [Moving Standard Deviation (Std)](volatility/README.md#type-movingstd)
 - Projection Oscillator (PO)
-- Ulcer Index (UI)
+- [Ulcer Index (UI)](volatility/README.md#type-ulcerindex)
 
 ### 📢 Volume Indicators
 
diff --git a/volatility/README.md b/volatility/README.md
index 43d5e33..225c688 100644
--- a/volatility/README.md
+++ b/volatility/README.md
@@ -50,6 +50,10 @@ The information provided on this project is strictly for informational purposes
   - [func NewMovingStdWithPeriod\[T helper.Number\]\(period int\) \*MovingStd\[T\]](<#NewMovingStdWithPeriod>)
   - [func \(m \*MovingStd\[T\]\) Compute\(c \<\-chan T\) \<\-chan T](<#MovingStd[T].Compute>)
   - [func \(m \*MovingStd\[T\]\) IdlePeriod\(\) int](<#MovingStd[T].IdlePeriod>)
+- [type UlcerIndex](<#UlcerIndex>)
+  - [func NewUlcerIndex\[T helper.Number\]\(\) \*UlcerIndex\[T\]](<#NewUlcerIndex>)
+  - [func \(u \*UlcerIndex\[T\]\) Compute\(closings \<\-chan T\) \<\-chan T](<#UlcerIndex[T].Compute>)
+  - [func \(u \*UlcerIndex\[T\]\) IdlePeriod\(\) int](<#UlcerIndex[T].IdlePeriod>)
 
 
 ## Constants
@@ -81,6 +85,15 @@ const (
 )
 ```
 
+<a name="DefaultUlcerIndexPeriod"></a>
+
+```go
+const (
+    // DefaultUlcerIndexPeriod is the default period for the Ulcer Index.
+    DefaultUlcerIndexPeriod = 14
+)
+```
+
 <a name="AccelerationBands"></a>
 ## type [AccelerationBands](<https://github.com/cinar/indicator/blob/v2/volatility/acceleration_bands.go#L27-L30>)
 
@@ -301,7 +314,7 @@ Chandelier Exit Short = 22-Period SMA Low + ATR(22) * 3
 Example:
 
 ```
-ce := volatility.NewChandelierExist[float64]()
+ce := volatility.NewChandelierExit[float64]()
 ceLong, ceShort := ce.Compute(highs, lows, closings)
 ```
 
@@ -319,7 +332,7 @@ type ChandelierExit[T helper.Number] struct {
 func NewChandelierExit[T helper.Number]() *ChandelierExit[T]
 ```
 
-NewChandelierExit function initializes a new Chandleir Exist instance with the default parameters.
+NewChandelierExit function initializes a new Chandelier Exit instance with the default parameters.
 
 <a name="ChandelierExit[T].Compute"></a>
 ### func \(\*ChandelierExit\[T\]\) [Compute](<https://github.com/cinar/indicator/blob/v2/volatility/chandelier_exit.go#L40>)
@@ -328,7 +341,7 @@ NewChandelierExit function initializes a new Chandleir Exist instance with the d
 func (c *ChandelierExit[T]) Compute(highs, lows, closings <-chan T) (<-chan T, <-chan T)
 ```
 
-Compute function takes a channel of numbers and computes the Chandleir Exist over the specified period.
+Compute function takes a channel of numbers and computes the Chandelier Exit over the specified period.
 
 <a name="ChandelierExit[T].IdlePeriod"></a>
 ### func \(\*ChandelierExit\[T\]\) [IdlePeriod](<https://github.com/cinar/indicator/blob/v2/volatility/chandelier_exit.go#L68>)
@@ -337,7 +350,7 @@ Compute function takes a channel of numbers and computes the Chandleir Exist ove
 func (c *ChandelierExit[T]) IdlePeriod() int
 ```
 
-IdlePeriod is the initial period that Acceleration Bands won't yield any results.
+IdlePeriod is the initial period that Chandelier Exit won't yield any results.
 
 <a name="MovingStd"></a>
 ## type [MovingStd](<https://github.com/cinar/indicator/blob/v2/volatility/moving_std.go#L19-L22>)
@@ -393,4 +406,57 @@ func (m *MovingStd[T]) IdlePeriod() int
 
 IdlePeriod is the initial period that Moving Standard Deviation won't yield any results.
 
+<a name="UlcerIndex"></a>
+## type [UlcerIndex](<https://github.com/cinar/indicator/blob/v2/volatility/ulcer_index.go#L30-L33>)
+
+UlcerIndex represents the configuration parameters for calculating the Ulcer Index \(UI\). It measures downside risk. The index increases in value as the price moves farther away from a recent high and falls as the price rises to new highs.
+
+```
+High Closings = Max(period, Closings)
+Percentage Drawdown = 100 * ((Closings - High Closings) / High Closings)
+Squared Average = Sma(period, Percent Drawdown * Percent Drawdown)
+Ulcer Index = Sqrt(Squared Average)
+```
+
+Example:
+
+```
+ui := volatility.NewUlcerIndex[float64]()
+ui.Compute(closings)
+```
+
+```go
+type UlcerIndex[T helper.Number] struct {
+    // Time period.
+    Period int
+}
+```
+
+<a name="NewUlcerIndex"></a>
+### func [NewUlcerIndex](<https://github.com/cinar/indicator/blob/v2/volatility/ulcer_index.go#L36>)
+
+```go
+func NewUlcerIndex[T helper.Number]() *UlcerIndex[T]
+```
+
+NewUlcerIndex function initializes a new Ulcer Index instance with the default parameters.
+
+<a name="UlcerIndex[T].Compute"></a>
+### func \(\*UlcerIndex\[T\]\) [Compute](<https://github.com/cinar/indicator/blob/v2/volatility/ulcer_index.go#L43>)
+
+```go
+func (u *UlcerIndex[T]) Compute(closings <-chan T) <-chan T
+```
+
+Compute function takes a channel of numbers and computes the Ulcer Index over the specified period.
+
+<a name="UlcerIndex[T].IdlePeriod"></a>
+### func \(\*UlcerIndex\[T\]\) [IdlePeriod](<https://github.com/cinar/indicator/blob/v2/volatility/ulcer_index.go#L78>)
+
+```go
+func (u *UlcerIndex[T]) IdlePeriod() int
+```
+
+IdlePeriod is the initial period that Ulcer Index won't yield any results.
+
 Generated by [gomarkdoc](<https://github.com/princjef/gomarkdoc>)
diff --git a/volatility/chandelier_exit.go b/volatility/chandelier_exit.go
index 32297a4..d2d6961 100644
--- a/volatility/chandelier_exit.go
+++ b/volatility/chandelier_exit.go
@@ -22,21 +22,21 @@ const (
 //
 // Example:
 //
-//	ce := volatility.NewChandelierExist[float64]()
+//	ce := volatility.NewChandelierExit[float64]()
 //	ceLong, ceShort := ce.Compute(highs, lows, closings)
 type ChandelierExit[T helper.Number] struct {
 	// Time period.
 	Period int
 }
 
-// NewChandelierExit function initializes a new Chandleir Exist instance with the default parameters.
+// NewChandelierExit function initializes a new Chandelier Exit instance with the default parameters.
 func NewChandelierExit[T helper.Number]() *ChandelierExit[T] {
 	return &ChandelierExit[T]{
 		Period: DefaultChandelierExitPeriod,
 	}
 }
 
-// Compute function takes a channel of numbers and computes the Chandleir Exist over the specified period.
+// Compute function takes a channel of numbers and computes the Chandelier Exit over the specified period.
 func (c *ChandelierExit[T]) Compute(highs, lows, closings <-chan T) (<-chan T, <-chan T) {
 	highsSplice := helper.Duplicate(highs, 2)
 	lowsSplice := helper.Duplicate(lows, 2)
@@ -64,7 +64,7 @@ func (c *ChandelierExit[T]) Compute(highs, lows, closings <-chan T) (<-chan T, <
 	return ceLong, ceShort
 }
 
-// IdlePeriod is the initial period that Acceleration Bands won't yield any results.
+// IdlePeriod is the initial period that Chandelier Exit won't yield any results.
 func (c *ChandelierExit[T]) IdlePeriod() int {
 	return c.Period - 1
 }
diff --git a/volatility/testdata/ulcer_index.csv b/volatility/testdata/ulcer_index.csv
new file mode 100644
index 0000000..b715e15
--- /dev/null
+++ b/volatility/testdata/ulcer_index.csv
@@ -0,0 +1,252 @@
+Close,UlcerIndex
+318.600006,0
+315.839996,0
+316.149994,0
+310.570007,0
+307.779999,0
+305.820007,0
+305.98999,0
+306.390015,0
+311.450012,0
+312.329987,0
+309.290009,0
+301.910004,0
+300,0
+300.029999,0
+302,0
+307.820007,0
+302.690002,0
+306.48999,0
+305.549988,0
+303.429993,0
+309.059998,0
+308.899994,0
+309.910004,0
+314.549988,0
+312.899994,0
+318.690002,0
+315.529999,1.95
+316.350006,1.59
+320.369995,1.27
+318.929993,1.11
+317.640015,0.95
+314.859985,0.94
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+310.420013,1.49
+311.299988,1.64
+311.899994,1.83
+310.950012,2
+309.170013,2.25
+307.329987,2.47
+311.519989,2.62
+310.570007,2.8
+311.859985,2.9
+308.51001,2.99
+308.429993,2.94
+312.970001,2.67
+308.480011,2.44
+307.209991,2.34
+309.890015,2.18
+313.73999,1.98
+310.790009,1.86
+309.630005,1.74
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+308.23999,1.45
+302.720001,1.51
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+303.070007,1.67
+304.019989,1.75
+304.660004,1.88
+305.179993,2.07
+304.619995,2.18
+307.75,2.18
+312.450012,2.14
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+311.119995,2.21
+311.369995,2.24
+304.820007,2.39
+303.630005,2.56
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+297.880005,2.84
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+293.51001,3.28
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diff --git a/volatility/ulcer_index.go b/volatility/ulcer_index.go
new file mode 100644
index 0000000..650da3e
--- /dev/null
+++ b/volatility/ulcer_index.go
@@ -0,0 +1,80 @@
+// Copyright (c) 2021-2023 Onur Cinar.
+// The source code is provided under GNU AGPLv3 License.
+// https://github.com/cinar/indicator
+
+package volatility
+
+import (
+	"github.com/cinar/indicator/helper"
+	"github.com/cinar/indicator/trend"
+)
+
+const (
+	// DefaultUlcerIndexPeriod is the default period for the Ulcer Index.
+	DefaultUlcerIndexPeriod = 14
+)
+
+// UlcerIndex represents the configuration parameters for calculating the Ulcer Index (UI).
+// It measures downside risk. The index increases in value as the price moves farther away
+// from a recent high and falls as the price rises to new highs.
+//
+//	High Closings = Max(period, Closings)
+//	Percentage Drawdown = 100 * ((Closings - High Closings) / High Closings)
+//	Squared Average = Sma(period, Percent Drawdown * Percent Drawdown)
+//	Ulcer Index = Sqrt(Squared Average)
+//
+// Example:
+//
+//	ui := volatility.NewUlcerIndex[float64]()
+//	ui.Compute(closings)
+type UlcerIndex[T helper.Number] struct {
+	// Time period.
+	Period int
+}
+
+// NewUlcerIndex function initializes a new Ulcer Index instance with the default parameters.
+func NewUlcerIndex[T helper.Number]() *UlcerIndex[T] {
+	return &UlcerIndex[T]{
+		Period: DefaultUlcerIndexPeriod,
+	}
+}
+
+// Compute function takes a channel of numbers and computes the Ulcer Index over the specified period.
+func (u *UlcerIndex[T]) Compute(closings <-chan T) <-chan T {
+	closingsSplice := helper.Duplicate(closings, 2)
+
+	//	High Closings = Max(period, Closings)
+	max := trend.NewMovingMaxWithPeriod[T](u.Period)
+	highsSplice := helper.Duplicate(
+		max.Compute(closingsSplice[0]),
+		2,
+	)
+
+	//	Percentage Drawdown = 100 * ((Closings - High Closings) / High Closings)
+	closingsSplice[1] = helper.Skip(closingsSplice[1], max.Period-1)
+
+	percentageDrawdown := helper.MultiplyBy(
+		helper.Divide(
+			helper.Subtract(closingsSplice[1], highsSplice[0]),
+			highsSplice[1],
+		),
+		100,
+	)
+
+	//	Squared Average = Sma(period, Percent Drawdown * Percent Drawdown)
+	sma := trend.NewSmaWithPeriod[T](u.Period)
+	squaredAverage := helper.Pow(
+		sma.Compute(percentageDrawdown),
+		2,
+	)
+
+	// Ulcer Index = Sqrt(Squared Average)
+	ulcerIndex := helper.Sqrt(squaredAverage)
+
+	return ulcerIndex
+}
+
+// IdlePeriod is the initial period that Ulcer Index won't yield any results.
+func (u *UlcerIndex[T]) IdlePeriod() int {
+	return (u.Period - 1) * 2
+}
diff --git a/volatility/ulcer_index_test.go b/volatility/ulcer_index_test.go
new file mode 100644
index 0000000..ce3ca7d
--- /dev/null
+++ b/volatility/ulcer_index_test.go
@@ -0,0 +1,39 @@
+// Copyright (c) 2021-2023 Onur Cinar.
+// The source code is provided under GNU AGPLv3 License.
+// https://github.com/cinar/indicator
+
+package volatility_test
+
+import (
+	"testing"
+
+	"github.com/cinar/indicator/helper"
+	"github.com/cinar/indicator/volatility"
+)
+
+func TestUlcerIndex(t *testing.T) {
+	type Data struct {
+		Close      float64
+		UlcerIndex float64
+	}
+
+	input, err := helper.ReadFromCsvFile[Data]("testdata/ulcer_index.csv", true)
+	if err != nil {
+		t.Fatal(err)
+	}
+
+	inputs := helper.Duplicate(input, 2)
+	closings := helper.Map(inputs[0], func(d *Data) float64 { return d.Close })
+	expected := helper.Map(inputs[1], func(d *Data) float64 { return d.UlcerIndex })
+
+	ui := volatility.NewUlcerIndex[float64]()
+	actual := ui.Compute(closings)
+	actual = helper.RoundDigits(actual, 2)
+
+	expected = helper.Skip(expected, ui.IdlePeriod())
+
+	err = helper.CheckEquals(actual, expected)
+	if err != nil {
+		t.Fatal(err)
+	}
+}