Light Streaks effect made in After Effects by using Red Giant’s Trapcode Particular.
Red Giant’s Trapcode Partiular is a great plugin and you can use it for creating hundreds of thousands of effects. In this you have to make a COMP of 60*60 resolution. Make a design using mask tool and this design will be used as the EMITTING object. Now add WIGGLE EXPRESSION in the position attribute of particular effect. Apply HUE/SATURATION effect to the main comp and add a WIGGLE EXPRESSION to its value.