I am glad to share my favorite nostalgic retro typographic effect inspired by the 80s.  You can apply this to your text and headings or logos.  The text effect is easy to edit, thanks to the smart layers. There are two smart object layers with two different text styles. Play with whichever you want or use them both.

Also, when you apply this effect on your text, you can move around the color lights to fit your text. The color lights can be hidden if you don't need them. Just play around and get the best result.

File Format: .PSD
Layers: Smart-Object
Dimensions: 5500x4000 Pixels
File Size: 100MB