Call using /fade #channel nick
Look at the nick list for effect ;)

alias fade {

  if (!$eval(% $+ fadeback $+ $1 $+ $2,2)) {

    set $eval(% $+ fadeback $+ $1 $+ $2,1) cline $line($1,$fline($1,$2,1,1),1).color $1 $fline($1,$2,1,1)

  }

  .timer $+ $$1 $+ $$2 $+ * off

  cline 1 $1 $fline($1,$2,1,1)

  .timer $+ $1 $+ $2 $+ fade1 $+ $ctime -m 1 750 cline 2 $1 $fline($1,$2,1,1)

  .timer $+ $1 $+ $2 $+ fade2 $+ $ctime -m 1 1500 cline 12 $1 $fline($1,$2,1,1)

  .timer $+ $1 $+ $2 $+ fade3 $+ $ctime -m 1 2250 cline 11 $1 $fline($1,$2,1,1)

  .timer $+ $1 $+ $2 $+ fade4 $+ $ctime -m 1 3000 $eval(% $+ fadeback $+ $1 $+ $2,2)

  .timer $+ $1 $+ $2 $+ fade5u -m 1 5000 unset % $+ fadeback $+ $1 $+ $2

}