Creating text with twisted iron rods

We start by typing the alphabet "T".

Right click the layer and select rasterize text. Create a rectangular selection using rectangular marquee tool. Press Ctrl+Shift+J to cut paste the selection in a new layer.
Select the vertical line layer. Double click the layer to open layer style window. Apply layer style with the settings shown.
Select the horizontal line layer. Copy the layer style from the previous layer and paste it on this layer. Double click the layer to open layer style window. Adjust the angle settings in gradient overlay as shown in the image below.

Create a twisted shape using pen tool.
Double click the layer to open layer style window. Apply layer style with the settings shown.

Duplicate the layer several times and place below each other as shown.
Similarly create twists over the horizontal rod.
Similarly type next alphabet and reapply the techniques mentioned above to make it look like a twisted steel rod.

Select and merge all the layers. Duplicate layer and change the layer mode to linear light.