Create a new document 400×150 with a black background, select the type tool, and type out your text. Try and use a boldish font like impact or arial bold.

Right-click your text layer and goto “rasterize layer”, now duplicate this layer and hide the duplicated layer, we shall be using it at the end. your layers window should looke like this.

Select your original text layer and press “ctrl + e” to merge the layer with the background. Now goto “image > rotate canvas > 90 cw”.

Now goto “filter > stylize > wind” use settings below.

Now press “ctrl + f” to apply the filter again. You should have something like this.

Now goto “filter > stylize > wind” use settings below.

Now press “ctrl + f” to apply the filter again. You should have something like this.

Goto “image > rotate canvas > 90 ccw”, then press “ctrl + f” to apply the wind filter again.

Now goto “filter > stylize > wind” use settings below.

You should have something like this.

Press “ctrl + u” and colorize the image in a color of your choice.

Unhide your hidden text layer, then hold down “ctrl on the keyboard” and click your text layer to make a selection, then goto “select > modify > contract”. Contract the selection by 2 pixels. Select your paint bucket tool and fill the selection with the color black. Now finally click your background layer and goto “filter > disort > ripple” apply the pre-set settings. Your final image should look like this.