Final Image Preview

1.Step

Create new document. Size 550*300 px. and fill it with black color. Create new layer and type there your text.

2.Step

Duplicate layer with text and make it invisible. To first text layer add Rasterize type function. Layer palette now looks like this:

3.Step

Now take brushes tool and draw some lines that comes from your text. Like this:

4.Step

Now go to Filter -> Noise -> Add noise. Select following options:

5.Step

Go to Filter -> Blur -> Radial blur. Select following options:

6.Step

Click several times Ctrl + F to repeat this function.

7.Step

Now duplicate this layer and go to Edit ->Transform -> Rotate 180.

8.Step

Now create new layer and click create new fill or adjustments layer and choose hue/saturation. Select following options:

9.Step

Create one more layer, fill it with black color and go to Filter -> Render ->Lens Flare. Select following options:

10.Step

Change blending mode to Screen and pull this layer under hue/saturation layer

11.Step

Last step. Now make visible layer with text. Go to layer styles. At first go to color overlay and change color of your text. We will take black color. Now go to Inner glow and select following options:

And we get nice text effect with lights rays.

Result: Light rays text effect

 Download Light rays Psd file