As I’m updating my HDR effect I wanted to create my own luma key effect.
Luma Include makes areas of your clips transparent based the luminance values of the footage. Although you can produce similar effects using the Luma Key effect, the parameters of Luma Include can be keyframed.
The effect defaults to showing all luminance levels: the Upper Limit is 1 and the Lower Limit is 0. Each limit also has a smoothness value.
Here are some two examples of different looks using the effect:
In this case the value of the Upper Limit parameter has been reduced, so the brighter areas of the image have been made transparent (also known as having been ‘keyed out’). Here are the controls: