Yay another Tutorial
I used this effect in this drawing [link] and a few people liked it so i thought i should write a tutorial on it. Ive seen it on the net in a few places but, this is my way of doing it, ive changed it a tiny bit
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Step 1: Create a canvas, it works out good if it is square, so i did mine 1000x1000

Step 2: Press D to set your default foreground and background colours to black and white

Step 3: Go to Filter -> Render -> Clouds, This should make lot of black and white cloud-like base

Step 4: Now go Filter -> Blur -> Radial Blur and the set the settings to this :
Amount: 38
Blur Method: Spin
Quality: Best

Step 5: Go to Filter -> Blur -> Gaussian Blur with a radius of 2, so its blurry

Step 6: Go to Filter -> Sketch -> Bas Relief and choose the settings -
Detail: 13
Smoothness: 9
Now we are starting to get the texture of the water ripple

Step 7: Now we go to Filter -> Sketch -> Chrome and set the settings to this:
Detail: 5
Smoothness: 2

Step 8: Now time to add some colour.
There are a few ways to colour it but i like to use the easiest(which turns out great)
Press ctrl+ U, this brings up the Hue/ Saturation window.
Click colourise(botton right corner)
Now you can make it whatever colour you want, and however dark or light you want
To get it to the blue i have use these settings
Hue: 198
Saturation: 31

Fin
Any questions please comment or note me