Create a new black background file in Photoshop, create a new layer, and apply the lens flare filter:
Press Ctrl+T to adjust:
Create another layer to apply the lens flare filter and press Ctrl+T to adjust:
Change the layer mode to Light:
Perform the above steps in the same way:
Flatten the layers and perform a wave filter:
Set layer style:
The settings are as follows:
Final effect: