To enable the Parallax effect on scroll, you will need to define an array of Parallax Levels and the Parallax Art within the Slider option.
Furthermore do not forget to set the Layers which you wish to move in parallax mode add the Parallax Class as well.
<div class="tp-caption lfb rs-parallaxlevel-1" data-x="center" data-hoffset="-998" data-y="bottom" data-voffset="100" data-speed="500" data-start="500" data-easing="Power4.easeOut" data-elementdelay="0.1" data-endelementdelay="0.1" data-endspeed="300" style="z-index: 22;"> <div class=" rs-wave" data-speed="2" data-angle="0" data-radius="20" data-origin="50% 50%"> <img src="images/dummy.png" alt="" data-lazyload="images/newwave1.png"> </div> </div>
jQuery('#slider').show().revolution( { dottedOverlay:"none", delay:16000, startwidth:1170, startheight:700, hideThumbs:200, thumbWidth:100, thumbHeight:50, thumbAmount:1, navigationType:"none", navigationArrows:"none", navigationStyle:"round", touchenabled:"on", onHoverStop:"on", swipe_velocity: 0.7, swipe_min_touches: 1, swipe_max_touches: 1, drag_block_vertical: false, parallax:"mouse", parallaxBgFreeze:"on", parallaxLevels:[10,7,4,3,2,5,4,3,2,1], keyboardNavigation:"off", shadow:0, fullWidth:"on", fullScreen:"off", spinner:"spinner4" });
<div class="tp-caption lfb rs-parallaxlevel-1" data-x="center" data-hoffset="-998" data-y="bottom" data-voffset="100" data-speed="500" data-start="500" data-easing="Power4.easeOut" data-elementdelay="0.1" data-endelementdelay="0.1" data-endspeed="300" style="z-index: 22;"> <div class=" rs-wave" data-speed="2" data-angle="0" data-radius="20" data-origin="50% 50%"> <img src="images/dummy.png" alt="" data-lazyload="images/newwave1.png"> </div> </div>