The AppleScript-based application NewTextFileHere does that, too. Download page is here. It can be dragged to the Finder toolbar, and it can open the file automatically once it's created.
If you open the application package …

… and go to Contents/Resources/Scripts/, you can open main.scpt and edit it. For example, I was annoyed that it only created text files. Change it to the following to just have it create any file you want:
try
tell application "Finder" to set the currentFolder to (folder of the front window as alias)
on error
set the currentFolder to path to desktop folder as alias
end try
set newfilename to ""
(*repeat while newfilename = ""*)
display dialog "Filename?" default answer newfilename buttons {"Cancel", "OK"} default button 2
set newfilename to text returned of the result
(*end repeat*)
set currentFile to POSIX path of currentFolder & newfilename
do shell script "touch " & quoted form of currentFile
do shell script "open " & quoted form of currentFile