This FAQ (v1.3) details how and why a salute could give Masters Swimmers a fun method to signal recognition to each other.

Is there any body contact involved?
Masters swimmers already have plenty of sensory stimulation so body contact is not necessary; hugging should be saved for the coach.

Masters use swimming aids, why not use a gesture of an aid in the greeting?
Greetings will occur outside of the pool environment, even though it may sometimes be difficult to recognize fellow Masters when they are fully clothed. Masters simply wouldn't look right if the greeting consisted of, for example, making circles with the forefinger and thumb and holding both hands to the eyes to suggest wearing a pair of goggles. There are other Masters disciplines besides swimming.

What about a 'cool' handshake?
The handshake originated from the ancient notion that when two people met, they would need to grip hands to ensure the other was not holding a weapon. Any variation of a handshake would therefore not be appropriate.

What about a Roman salute? it sounds like fun!
Unfortunately, the Roman salute would be questionable. Everyone has probably seen at least one old Roman movie where a Roman Centurion enters a room, gives a salute and says 'Hail Caesar'. This salute uses an extended and raised right arm with open palm. It became popular in early 20th Century by Mussolini who wanted to revive the traditions of the Roman Empire to save Western Christian civilization from Socialism that was sweeping across Europe. Hitler copied it from the Italians and coupled with 'Heil Hitler', everyone today now associates this salute with Hitler and the Nazi party.

Are there any recent variations of the Roman salute?

A memorable variation on this salute occurred at the 1968 Olympics when Tommie Smith and John Carlos (finished 1st and 3rd in the 200-meter run) gave the Black Power salute (extended arm with black gloved fist) during the national anthem as a protest against racism in the U.S. and they were immediately suspended from the team. An obvious contrast to when Germans gave the Nazi salute when receiving their medals during the 1936 Olympics.

So what is the Masters Salute?
The Masters salute has two hand positions, the 'Recognition' and then the 'Acknowledgement'. The 'Recognition' starts with the closed right hand taken across the body to touch against the left side and midway up the sternum (center bone of your rib cage). This is followed by the 'Acknowledgement' where the right arm moves out to the right side and in line with the body. The elbow is bent with the upper arm vertical and the closed hand facing forward at eye level. The full salute comprises both movements in one continuous relaxed action.

Isn't the first hand position the alternative Roman salute?
No, the alternative Roman salute had the open right hand placed across the left breast with the arm horizontal and palm facing down. Masters use a closed fist to symbolize respect to the person they are greeting and then place it slightly to the left of the sternum (thumb joints on the sternum) to symbolize dedication to the sport. This is, after all, where your heart is.

Why not place the open hand against the breast?
An open hand on the breast looks too much like taking an oath of allegiance and not suited to the action of a greeting.

Why are there two movements?
The 'Recognition' sets the quality for the greeting whilst the 'Acknowledgement' is the replacement action for the perfunctory 'wave'.

Why not open the hand during the second position?
If your hand was open, this is the traditional Red Indian greeting; the closed hand dispels this interpretation.

Can only the first position be used?
No, since a greeting would not have been given. The dual movement conveys the messages of 'I see you" (not unlike the phrase popularised by the Na'vi of Pandora) and "Peace be with you". The full action is quite cool and there is an undeniable impression of strength.