Thanks for the tips! I was able to create a shadow effect using a loop.
I'll share my preset here. Where do people share their video presets anyway?
Code:
// text overlay
text="Set text here";
font="Arial";
//@param1:size 'text size' 0.05 0.01 0.3 0.1 0.001
//@param2:ypos 'y position' 0.5 -0.2 1.2 0.5 0.01
//@param3:xpos 'x position' 0.5 0 1 0.5 0.01
//@param5:fgr 'text R' 255 0 255 128 1
//@param6:fgg 'text G' 255 0 255 128 1
//@param7:fgb 'text B' 255 0 255 128 1
//@param8:fga 'text A' 1 0 1 0.5 0.005
//@param10:sha 'shadow alpha' 0.3 0 1 0.5 0.01
//@param11:shy 'shadow y' 0.5 -1 1 0.5 0.01
//@param12:shs 'shadow spread' 5 0 10 5 0.05
//@param13:shi 'shadow iterations' 5 1 20 5 1
gfx_blit(0,1);
gfx_setfont(size*project_h,font);
gfx_str_measure(text,txtw,txth);
yt = (project_h - txth)*ypos;
gfx_set(0,0,0,fga * (sha * sha * sha * sha), 18);
x = xpos * (project_w-txtw);
i = 0;
loop(shi,
gfx_str_draw(text,x + (i * shs * size),yt + (100 * shy * size) + (i * shs * size));
gfx_str_draw(text,x - (i * shs * size),yt + (100 * shy * size) - (i * shs * size));
gfx_str_draw(text,x + (i * shs * size),yt + (100 * shy * size) - (i * shs * size));
gfx_str_draw(text,x - (i * shs * size),yt + (100 * shy * size) + (i * shs * size));
i += 1;
);
gfx_set(fgr/255,fgg/255,fgb/255,fga);
gfx_str_draw(text,x,yt);