I am not a coder, but for work I wrote this script "Ocean Palne".
It's a "primitive plane" that fits to camera's perspective. The. zip file contains the script and scenes in 3dsmax 2011 with the modifiers diplacemap, also try it with hot4max.
Copy the script in "Autodesk\3ds Max 2011\Scripts\Startup", load the scene and create "Ocean plane", select the camera in camera slot's, change the parametres and binds spacewarp diplacemap at plane.