I have raised red circular patchy rash on my chest, leg, and back, not itchy or painful. localized. what could this be?

Red patch: can still be fungal infection even if not itchy. Rashes are mainly fungal or eczema-allergy. Eczema is more itchy then fungal infection. "rash" can be auto-immune which treatment is very different.

Tinea corporis: Tine a corporis is a common fungal skin problem which is easily treated with prescription medicine (cream or lotion). I would visit with your primary care physician to obtain a prescription.