Alpha channel not only black and white. Wont' save.

How do I save that texture with that alpha channel? When I save it as Compressed with Alpha, or Uncompressed with Alpha. It just paints all gray and noise 100% white. Is there a way to save such alpha channel?

I don’t see any reason it wouldn’t save the alpha channel. Although the RGB channel can’t have transparency on it, but that doesn’t matter since it’ll flatten out to black background when you save it. Although if you’re going to save it straight to .vtf, then I dunno, I always save as .tga and convert to .vtf with VTFedit.

Yeah, save it as a 32 bit TGA and import it into VTFEdit instead.

Oh look. It worked. And I thought photoshop VTF plugin has advantage over VTFEdit.

You must be using a different VTF plugin than I use; it gives far more options than the two you listed. Either that, or an extremely old version. Try looking for the most recent one from Nem’s tools to simplify future work. I recommend DXT5 if you want a smaller size, but BGRA8888 if you want to maximize quality.

I used to have some trouble with alphas saving on the photoshop plugin on my old computer. It seemed more or less sporadic, but when I had the problem, it was fixed from saving it in an alpha enabled format, opening the vtf, and copying the .psd alpha to the vtf alpha and resaving. Alternatively, I found that starting from a .vtf that had an alpha in the first place helped.