Start by typing your text.
Ctrl select the layer to get the selection.
Select gradient tool. Apply settings as shown.
Create a new layer. Apply the gradient several times.
Press Ctrl+U to desaturate the layer.
From filter menu select sketch>>emboss. Apply settings as shown.
From image menu select mode >>grayscale. Form image menu select mode>>color table. Select black body form custom table style.
Select the black area using magic wand tool. Press Ctrl+Shift+I to inverse the selection. Press Ctrl+J to copy paste the selection in a new layer.
