Answer
Here’s how to create something similar in Photoshop…
Create a low res, greyscale document and add your text in a layer as a 50% tint of black (the 50% will give the checkerboard effect later).
Next add some noise (this will produce the random filled in dots). Go to Filter > Noise > Add Noise
and pick a low amount to add (I used 15%) then go to Edit > Fade Add Noise
and change Normal to Darken (because we only want to add dots, not create holes too). The result should look something like this…
Next, go to Image > Mode > Bitmap and select settings that will keep the same resolution and choose Halftone Screen as the Method, like this…
Click OK and then choose the following settings (the frequency needs to match the resolution of your image)…
You will now have a checkerboard pattern with the odd random dots filled in, the last step is to vertically scale this so that the ‘dots’ are stretched. The final result should look something like this…
You’ll need to tweak the initial resolution and the amount of noise to your tastes and then you just need to colour it up as required.
Attribution
Source : Link , Question Author : Simon Rogers , Answer Author : Westside