My PhotoShop recipe for this one is:
Other>extract>max: R=70/50>mix: 100/50.
Distort>wave=1, 999, 999, 999, 999, 100/100 >triangle>REP.
Other>extract>max: R=70/50>mix: 100/50.
Distort>wave=1, 999, 999, 999, 999, 100/100 >triangle>REP.
Another of my PhotoShop Effects for this is:
wave_sine_514-514_505-505_100-100_-Wrap_Randomx5
wave_sine_514-514_505-505_100-100_-Wrap_Randomx5