A plural panel vertically hung horizontally adjustable light transmitting window shade apparatus for varying the amount of light from zero to maximum that can pass through alternate transparent and opaque portions of the plural panels. The plural panels hang vertically downward from separate mounting elements of a control mechanism. The control mechanism, when actuated, moves either one or two of the plural panels horizontally relative to the other panel, thus changing the position of the transparent portions and opaque portions of each panel. The control mechanism also vertically deploys or retracts the dual panels using the same control mechanism used to move the panels horizontally. A bottom rail maintains the lower ends of the panels in a closely adjacent position, and also allows relative vertical movement of each panel relative to the other when the panels are either deployed or retracted.