Step One


Make a new document with a white background. Click the type tool (or Ctrl+t) and write your desired text in black.
Right Click on that layer in the little layer window and select Rasterize Layer.

Step Two


Merge the text image with the background image by hitting “Ctrl+E” Then go to Filter>Pixelate>Crystallize. Set the Cell Size as “3″.
Go to Filter>Stylize>Find Edges. Then go to Filter>Blur>Gaussian Blur. Enter 1.0

Step Three


Go to Image>Rotate Canvas>90?Ǭ? CW. Then go to Image>Adjustments>Invert (Ctrl+I). Then Filter>Stylize>Wind. (Make the method is “wind” and the direction is “from the left”)
Go to Image>Rotate Canvas>90?Ǭ?CCW. (this should turn it back round so you’ll know if its upside down!)
Then go to Image>Adjustments>Hue/Saturation (Ctrl+U). Check the “Colorize” option, and input these numbers.

Conclusion


This is what you should end up with!

Rating: