A mate did an impromptu 3 day masters degree in waving while crossing the nullabor solo in his Beetle. He was seeking the 'perfect wave' that maximised return waves.
In brief: a raised finger with a bit of hand off the steering wheel created the best 'return on investment'. Too big a wave and you look like a sorry arse lonely desperado, too small and no-one notices.
Kiting's the same, chill but throw some good vibes in for good measure