Here is a written tutorial showing the Blend If in Photoshop which is similar to the Blend Ranges in Paintshop pro.
https://www.photoshopessentials.com/pho ... /blend-if/
I did research this feature way back so will look it up again and see if I can show some practical effects in Paintshop pro.
EDIT:
another video
https://www.youtube.com/watch?v=3GKDBXr ... e=youtu.be
1. load a background image eg rough fence , brick wall, rock face. (I used an image 600 pixels on longest side).
2. Choose text tool and type in some text - wide letters look better , I used Batavia font and primary red.
3. Convert the text layer to a raster layer.
4. With the text layer active, do a Gaussian blur Adjust > Blur > Gaussian Blur and radius about 2-3, this will make the edges soft and less artificial .
5. Right click the Text layer and choose Properties and choose the Blend Ranges tab.
6. By moving the sliders of the Underlying Layer you can control what parts of the fence show through the red test. I moved the upper slider to 235 and the lower slider to 12.
7. The result shows what looks like faded red paint on a fence.
Another example of what can be done
Systems available Win7, Win 8.1,Win 10 Version 1607 Build 14393.2007 & version 20H2 Build 19042.867