At the age of 80, she's 'riding a/the wave of' renewed interest in her work. [=she's experiencing a time when many people are interested in her work again]
The traffic cop 'waved' cars 'through'. [=waved in a way that told drivers to continue driving through a particular area]
The new school has triggered a 'wave' of optimism [=has made many people feel optimistic] about the public school system.
(..) all over the kill zone. I cannot see the planes, but what I can see is an unbelievable sight. Emily Cale is out on the lawn, and she's waving the presidential flag. No, baby. No, I told you to run! You gotta run! Captain, do you see this? Delta -, we have a young girl on the lawn. (..)2013 White House Down
(..) -Not so bad. Move in a little bit. -Don't-- Don't touch that. -Why not? Do you see me grabbing your gun and waving it around? Hey, RadioShack. Relax. Munitions. -Phil Turrentine. -Dead . -No shit. On the job? (..)2001 Ocean's Eleven
(..) That's great. It's alright. Truth is, I don't think people... understood what it was I was doing at Shaffer. I wasn't there to conduct. Any fucking moron can wave his arms and keep people in tempo. I was there to push people beyond what's expected of them I believe that is... an absolute necessity. (..)2014 Whiplash