1. Make a new document. Fill it black.



2. In the main layer make three lens flares in different positions. (Filters>Render>Lens Flare). Try different setting for each lens as well.



3. Apply a wave filter with randomization and the following settings.(Filter>Distor>Waves). Do it a couple of times.



4. Apply a Chrome Filter (Filters>Sketch>Chrome) with the following settings:

• Detail: 9
• Smoothnes: 2



1. Ctrl+U. Click on colorize. Any hue you like (I like red). Saturation:100 Luminosity: 0

   

Try with different settings, adding more lens flares, more waves, a different color... anything you like ;)