Yes, that looks like the right one.
As for the wave-on, wave-off, you will need a circuit like this one, connected to the sensor circuit:
View attachment 48869
I believe that if you replace SW1 with a bipolar transistor (collector to "clk" and emitter to "0v"), the base can be connected to the output of the sensor circuit. This way, it will turn on when it receives a signal (a wave) and turn off when it receives another signal (a second wave).
Good luck!
Der Strom