First, I duplicated the blue channel and the background image, then I created a new layer and applied the image of the blue channel on this layer.
I set the mode of this layer to color burn and applied it on the duplicated and desaturated background.
Then I used a color adjustment layer and added green.
Next I enabled the grid and used the elliptical marquee tool to make the outer ring of the crosshair.
step 2 of 3
Then I used the line tool in path mode to draw the lines inside of the crosshair. I used stroke path and filled them with 50% gray.
step 3 of 3
Then I used the ellipse shape tool for the little red dot in the middle of the cross hair.
I merged the layers containing the crosshair and set the blend mode to linear dodge. Next, I added a layer with noise and that's about it.