Wave Sliding

The act of being pulled behind a fast moving boat while hanging on to a ski rope without the use of skis, wakeboard, kneeboard, ect.

In Super Smash Bros. Melee, characters who's walk-acceleration is lower than their traction value after wavelanding backwards can buffer a slight walk forwards to decrease the momentum lost. The walk input must be at its lowest value to perfectly execute the tech. (rough translation of inputs) Characters with low traction (Luigi) benefit worse than those with higher traction values in Melee. (i.e Gannondorf can benefit from the Koopa Backdash Wave Slide Hover Walk Moon Landing more than Luigi in terms of distance)
Youtube has more info on this.