Save a *mask.psd* file with the figure and a gradient from black to white at 45º the same size as the file with the text.

[![files][1]][1]

At the original file, duplicate the text file and form **Filter** > **Distort** > add a **Displace Effect** using the mask.psd as displacing file.

[![displace][2]][2]

In a layer with the original shape, add the stroke and color effects to simulate the edge profile

[![effect][3]][3]


[![animation][4]][4]

**Result**

[![enter image description here][5]][5]


  [1]: https://i.sstatic.net/zTBZ5.png
  [2]: https://i.sstatic.net/ctRaw.png
  [3]: https://i.sstatic.net/HQmNJ.png
  [4]: https://i.sstatic.net/RhniA.gif
  [5]: https://i.sstatic.net/ViVLc.jpg