Here's a black and white photo I took of a waterfall in West Virginia. This photo was taken with the Canon EOS 5D Mark III, f/14 @ 17 mm, 15s, ISO 100 with a variable neutral density and a polarizer filter. Using a polarizer filter is a must for taking waterfall photos. The filter will cut down the glare on the rocks and water letting you see the rocks under the moving water...
http://www.willmoneymaker.com/blog/2013/6/long-exposure-waterfall-photography