Now we're going to paint the wave. This part depends greatly on the taste of the individual. I will show how I did it, but I urge you to experiment. Lets first assign some primary values. You can experiment with additive and colour filter but we should be pretty set to assign some textures now.
Lets begin with colour.
The white and yellow ones are moving chaotically at the wavefront while the red one trails. Now we put the same textures in the transparency texture panel as we had in colour. This way we make sure the textures are the only things we see. Just make sure the size, velocity and everything else is identical to the colour textures. What I do is to add one other transparency fractal noise texture.