This is an effect i learned from a youtube video by xgeous.
https://www.youtube.com/watch?v=Q8gOFGE2CHkI modified his technique a tiny bit as i will explain later in the tutorial.
All credit goes to xgeous - i just recreated the tutorial and made the screenshots !
Thank you xgeous !
01. Start with a canvas 840 x 500px #ff4100
02. Type your text: Impact Condensed 234px #ad0000
03. Center your text
04. Go to Filters → Map → Map Object
under Light → 'Lightsource Type' choose 'No Light'
for the Orientation, use the values you see in the screenshot
05. alpha select your text and save it to a channel for future use
06. create a new transparent layer and name it 'Extrusion'
fill the alpha selected text with #2b0000
07. apply Motion Blur to the Extrusion Layer: Length: 30 Angle: 270
08. in the original video tutorial, xgeous duplicates the Extrusion Layer several times and then merges them down
i do it, in what i think is an easier way, by making use of the 'Clone Layer Tool'
Make sure all layers are automatically merged down to one layer or else you will suddenly have 30 layers
when you are done click 'Layer to image size' and put your Base Text Layer on top
09. create a new layer, activate the Base Text selection from the saved channel and fill it with a color that is white mixed with the color of your base text, i used #ffd4d4
10. duplicate your saved channel and Offset it by -2/-2
(i changed the color of the mask to green so you guys can see it better)
choose 'Channel to Selection', then activate your new layer and Cut (or hit Del), then Deselect
you should get something that looks like this:
(instead of doing this with the saved channel, you could just as well move the selection with the 'Move Tool' set to Selection)
11. apply Motion Blur to your Layer, same values as before
12. copy this layer, like 5 times and then merge them down,
13. then put it under your Base Text
14. create a new transparent layer, name it 'Highlight'
15. select your text from channel and apply a gradient: white to transparent,
16. change the mode and opacity to something that looks good to you (i used Screen and 75%), and deselect, like this
17. now for the reflection
turn off the background then click 'New From Visible' put this layer under all layers, but above the background and turn the Background on again
18. add a white layermask to the Reflection Layer, call up the Gradient Tool and set the colours from black to white
activate the layermask and stroke the gradient on the reflection so that it becomes partly transparent, like this:
19. if you dont like the jagged edges, you can erase parts of the Extrusion layer or make them invisible with a layermask
20. and this is your final result. Thanks again xgeous !