wait what? what does that look like?
You can see examples in koth_occult and pl_effigy. Not to brag but they're pretty much the best flowing water in the game.
To elaborate on my previous comment, shader magic refers mostly to the use of unlitTwoTextures where one texture can be used to fade the other one in. This is very good to fade in waves/ripples/foam. The way unlitTwoTextures works is you can get your main texture scrolling with a mask texture that does not scroll.
If you're going for complex geometry, you'd need to have a second layer to your model with the refract shader to act as your base. (this essentially mimics normal water textures)
Why not just displacements then? Well, modeling is crucial because you get greater control over the UV mapping and can accommodate more complex geometry. Your texture by itself will scroll at a linear rate, meaning it will be very difficult to make it look like the water is accelerating near slopes. With UV mapping, How much you stretch your texture in the unwrap will control how fast your water appears to be moving.
If you still need your water to have water properties, you can get that with invisible func_waters, those can be slanted and be pretty much of any shape.