Your End Result Will Look like this >        

Using this tutorial you can create various other colorful (Gradient Particular) designs on the same base.

1) Click New in th FILE menu and creat a new Photoshop document with values as shown in the image below (Ctr+N).

2) Using Paint bucket tool paint the layer with With Black Color. (#000000)

3) Select the Text Tool ( Horizontal Type ) from the Tool Box Window and write the text of your choice on the layer
we just created . Try using some Liquid/Fluid kinda font. I used a font named “Bloody” from DAFONT.com .
Color to be used for text : White ( #FFFFFF).

4) At this stage your document should give this look :

5) Now coming to the Blending Options. Right Click the Text Layer in the Layer Window and click Blending Options.

Drop Shadow : Color Code to be used for Blend Mode : #959595

Inner Shadow: Color Code to be used for Blend Mode : #989898

Outer Glow  : Color Code used along : #FEFEFE

Inner Glow  : Color Code to be Used in Blen Mode along with transparent : #9A9A9A

Bevel & Emboss : Color Code to be used for HightLIght Mode : #FFFFFF and For Shadow Mode : #000000

Contour      :

Satin         :    Color Code used for Blending : #FFFFFF

Color overlay : Again use same color code ( #FFFFFF) with the given values.

At this stage you are ready with your text and Background. Your Image should look like this:

6) Now for Creating Bars. Select Custom Shape Tool from the Tool Box Window, as shown in the image below.

7) Now select the custom shape shown in teh Image below. Hint : Load all the presets for custom shapes first !

Now draw the custom shape selected over the text. You should get something like this :

9) Now coming onto the Blending Options for the custom shape we just made. Slect teh layer from the layer window and    right click, now click Blending Options.

Blending Options ::

Drop Shadow : you can use variety of color of your own choice out here in blend mode to get output                   suiting your needs.I used Black #000000

Bevel & Emboss : Color Code used for HightLight Mode : #E1F2F2
Color Code used for Shadow Mode     : #4E3610

Satin        :   Color Code used was #000000. Black

Gradient Overlay : This is the main Blending Option for getting your very own cool effects. You can                        select any option for gradients suiting your needs. Generaly light colors look very                    good when placed over some dark colors along with gradient.

This is what i used. The color by default was white for gradient i made it black.                       You can select whatever suits you.

Here you are done with the amazing tutorial. Save your image in your preferred format

You can even get these effets after altering a few blending options your own way :