effect similar to "set colour" with colour opacity setting?

Hi all, hope someone will be kind enough to answer..

I wanting to make some animating sprites a solid colour, say for example RGB 255,0,0 then fade that amount down via opacity / amount so the overlaid colour gradually dies away.

Having gone through the effects, I can't seem to find anything like this..

Example image is attached, hope someone can advise..

fx.png

I think the best way to do this is to do a red copy of the sprite and place on top, then control the opacity of that sprite. At least it's more lightweight and CPU friendly than using effects and blend modes.

Tnanks for the response, Sadly that's not very viable for me as I want it to work on numerous sprite characters that have rather large amounts of animations, and some are going to be quite large...

I shall attempt writing my own effect for it!