RGB split effect
Separate each component's RGB(red, green, blue) colors and display them on the screen with an offset:

This is also known as chromatic aberration. Each of the red, green and blue channels can be offset independently on the X and Y axes. It's often used for glitch effects, damage/hit feedback, teleportation or a retro screen look. Animating the offsets with events (for example a short pulse when the player is hit) makes the effect feel dynamic. This is a 2D-only effect.
Reference
All effects are listed in the effects reference page.