Waves represented by circles! See gfycat here: http://gfycat.com/AfraidRequiredEsok

CircleView.cs

using System;
using Android.Content;
using Android.Graphics;
using Android.Runtime;
using Android.Util;
using Android.Views;

namespace CircleWaves
{
    public class CircleView : View
    {
        private Paint _paint;
        private Color _color;

        public CircleView(IntPtr javaReference, JniHandleOwnership transfer) 
            : base(javaReference, transfer) { }

        public CircleView(Context context) 
            : this(context, null) { }

        public CircleView(Context context, IAttributeSet attrs) 
            : this(context, attrs, 0) { }

        public CircleView(Context context, IAttributeSet attrs, int defStyleAttr)
            : base(context, attrs, defStyleAttr)
        {
            Init();
        }

        public int Angle { get; set; }
        public bool ClockWise { get; set; }
        public float CircleRadius { get; set; }
        public int Increment { get; set; }

        public Color Color
        {
            get { return _color; }
            set
            {
                _paint.Color = _color = value;
            }
        }

        private bool _first;
        private void Init()
        {
            _paint = new Paint(PaintFlags.AntiAlias);
            _color = Color.Black;
            _paint.StrokeWidth = 2;
            _paint.Color = _color;

            Angle = 360;
            ClockWise = true;
            _first = true;
        }

        public override void Draw(Canvas canvas)
        {
            base.Draw(canvas);

            var width = Width - PaddingLeft - PaddingRight;

            var radius = width / 2f;
            _paint.SetStyle(Paint.Style.Stroke);
            canvas.DrawCircle(Width / 2f, Height / 2f, radius, _paint);

            if (!_first) {
                if (ClockWise)
                {
                    if (Angle == 360 || Angle > 360 || Angle < 0)
                        Angle = Increment;
                    else
                        Angle += Increment;
                }
                else
                {
                    if (Angle == 1 || Angle > 360 || Angle < 0)
                        Angle = 360;
                    else
                        Angle -= Increment;
                }
            }

            _first = false;

            var radians = GetRadians(Angle);
            var x = (float) (Width / 2f + radius*Math.Cos(radians));
            var y = (float) (Height / 2f + radius*Math.Sin(radians));

            _paint.SetStyle(Paint.Style.Fill);
            canvas.DrawCircle(x, y, CircleRadius, _paint);
        }

        private static float GetRadians(float angle)
        {
            return (float) (angle*(Math.PI/180));
        }
    }
}

MainActivity.cs

using System.Threading.Tasks;
using Android.App;
using Android.Graphics;
using Android.Views;
using Android.Widget;
using Android.OS;
using Android.Util;

namespace CircleWaves
{
    [Activity(Label = "CircleWaves", MainLauncher = true, Icon = "@drawable/icon")]
    public class MainActivity : Activity
    {
        private LinearLayout _rootLayout;

        protected override void OnCreate(Bundle bundle)
        {
            base.OnCreate(bundle);

            var metrics = new DisplayMetrics();
            WindowManager.DefaultDisplay.GetMetrics(metrics);

            
            var circles = 15;
            var width = metrics.WidthPixels;
            var padding = 6;

            var viewWidth = width/circles;
            var overlap = viewWidth / 2;


            _rootLayout = new LinearLayout(this)
            {
                LayoutParameters = new FrameLayout.LayoutParams(ViewGroup.LayoutParams.MatchParent,
                    ViewGroup.LayoutParams.MatchParent),
                Orientation = Orientation.Vertical
            };
            _rootLayout.SetPadding(10, 10, 10, 10);
            _rootLayout.SetBackgroundColor(Color.White);

            // Play around with this value to get a different effect
            var angleIncrement = 10;

            var angle = 0;
            for (var i = 0; i < circles; i++)
            {
                var row = new LinearLayout(this)
                {
                    Orientation = Orientation.Horizontal
                };
                if (i == 0)
                    row.LayoutParameters = new LinearLayout.LayoutParams(ViewGroup.LayoutParams.MatchParent,
                        ViewGroup.LayoutParams.WrapContent);
                else
                    row.LayoutParameters = new LinearLayout.LayoutParams(ViewGroup.LayoutParams.MatchParent,
                        ViewGroup.LayoutParams.WrapContent) {TopMargin = -overlap};
                row.SetBackgroundColor(Color.Transparent);
                _rootLayout.AddView(row);

                for (var j = 0; j < circles; j++)
                {
                    var circle = new CircleView(this)
                    {
                        CircleRadius = 8,
                        Angle = angle,
                        Increment = 12
                    };
                    circle.SetPadding(padding, padding, padding, padding);
                    circle.SetBackgroundColor(Color.Transparent);

                    row.AddView(circle, j,
                        j == 0
                            ? new LinearLayout.LayoutParams(viewWidth, viewWidth)
                            : new LinearLayout.LayoutParams(viewWidth, viewWidth) {LeftMargin = -overlap});

                    angle = angle + angleIncrement;
                }

                angle = angleIncrement * i;
            }

            SetContentView(_rootLayout);

            MainLoop();
        }

        private async Task MainLoop()
        {
            while (true)
            {
                await Task.Delay(2);

                var childCount = _rootLayout.ChildCount;
                for (var i = 0; i < childCount; i++)
                {
                    var child = _rootLayout.GetChildAt(i) as LinearLayout;
                    if (child == null) continue;
                    var innerChildCount = child.ChildCount;
                    for (var j = 0; j < innerChildCount; j++)
                    {
                        child.GetChildAt(j).PostInvalidate();
                    }
                }
            }
        }
    }
}