It wouldn't really be a locution; is the adjective 'bad' ("negative, unfriendly, unpleasant") for the noun 'wave' which figuratively is "attunement, communication, vibration, connection". It is understood as something or someone for whom we feel or can feel a rejection, and although it has use in many circumstances they all have this same origin.
* Only one "like" per meaning and day, the more "likes" the meaning will appear higher in the list
