All AC is a wave. Standard AC (the old welding machines, and the kind that comes out of the wall) is a sine wave. A lot of AC machines now use square wave AC so that the arc is more stable, and it can be adjusted for frequency and percentage positive and negative. The AWS structural welding codes and ASME Section IX do not list this as an essential variable. In fact, with ASME, it is not even an essential variable to change from AC to DC. (It is a supplementary essential variable so that it affects your procedure with Charpys)