The Wave Pattern procedural texture produces a wavy pattern defined by two color parameters (figure 1).
Figure 1: The Wave Pattern node and it's associated parameters
Axis - Determines the coordinate axis for the waves.
Shape - Provides options for altering the shape of the waves.
Amplitude & Amplitude Shift - Provides control over the brightness of the wave pattern.
Color 1 & 2 - Determines the two colors generated by the wave pattern. Other textures can be connected to these parameters to create more complex results.
UVW Transform - Positions, scales, and rotates the surface texture.
Projection - Sets how the texture projects onto the surface.