With Layer Effects you can easily create common effects such as drop shadows and glows. However, you might want
to put a more advanced spin on that effect. This technique shows you how to separate the layer effect from the layer using advanced blending options.
Open the file that you need to add the overlay to.
Select type tool and click in the image area to add the necessary type, this technique also works with any type of layer just type
Go to the Layers palette, double click on the name of the Type layer to access the Layer Style dialog box.
Add the layer style that you need.
Checking the box next to the style will apply it, clicking on the name of the style will apply it and also reveal it’s options.
While still in the Layer Styles dialog box, remove the fill of the type by clicking on the Blending Options Default option.
Under Advanced Blending, lower the Fill Opacity to zero and the fill fade away, but the effect remains
When in the General Blending area, lowering the Opacity will lower the fill and the effects.