present participle
Concise Oxford English Dictionary © 2008 Oxford University Press:
present participle
▶noun Grammar the form of a verb, ending in -ing in English, which is used in forming continuous tenses, e.g. in I'm thinking, alone in non-finite clauses, e.g. in sitting here, I haven't a care in the world, as a noun, e.g. in good thinking, and as an adjective, e.g. in running water.
'present participle' also found in these Oxford entries:

