1 Set your foreground color to #000000, now take the Type Tool and type in your text that you want.



2 Go to Layer >> Layer Style >> Gradient Overlay and use these settings. (note: you will need this gradient for this step.)



3 Again go to Layer >> Layer Style >> Bevel and Emboss and use these settings.



4 Put your foreground color as #868686 then take the Air Brush tool and change the brush to the second smallest. Create a new layer and make little dots where you want the indents to be.



5 Go to Layer >> Layer Style >> Bevel and Emboss and use these settings. There you have a nice looking Metal Text with and bolt indent look to it.