1. Create new document. Size 550*300 px. and fill it with black color. Create new layer and type there your text.
2. Duplicate layer with text and make it invisible. To first text layer add Rasterize type function. Layer palette now looks like this:
3. Now take brushes tool and draw some lines that comes from your text. Like this:
4. Now go to Filter -> Noise -> Add noise. Select following options:
5. Go to Filter -> Blur -> Radial blur. Select following options:
6. Click several times Ctrl + F to repeat this function.
7. Now duplicate this layer and go to Edit ->Transform -> Rotate 180.
8. Now create new layer and click create new fill or adjustments layer and choose hue/saturation. Select following options:
9. Create one more layer, fill it with black color and go to Filter -> Render ->Lens Flare. Select following options:
10. Change blending mode to Screen and pull this layer under hue/saturation layer
11. 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 one more layer style. Go to Outer glow and select following options:
And we get nice text effect with lights rays.
More Tutorials: 
