We develop and calibrate a new method for estimating the gravitational radi
ation emitted by complex motions of matter sources in the vicinity df black
holes. We compute numerically the linearized curvature perturbations induc
ed by matter fields evolving in fixed black hole backgrounds, whose evoluti
on we obtain using the equations of relativistic hydrodynamics. The current
implementation of the proposal concerns Schwarzschild black holes and axis
ymmetric hydrodynamical motions. As first applications we study (i) dust sh
ells falling onto the black hole isotropically from finite distance, (ii) i
nitially spherical layers of material falling onto a moving black hole, and
(iii) anisotropic collapse of shells. We focus on the dependence of the to
tal gravitational wave energy emission on the flow parameters, in particula
r shell thickness, velocity and degree of anisotropy. The gradual excitatio
n of the black hole quasi-normal mode frequency by sufficiently compact she
lls is demonstrated and discussed. A new prescription for generating physic
ally reasonable initial data is discussed, along with a range of technical
issues relevant to numerical relativity. [S0556-2821(99)05602-7].