You can select serial linked edges or faces which form a loop from selected edges or faces.
How To Use
Edge Loop Selection
You should select an edge and click "Loop" button in "Select and Hide" group and then you can select successive edges from the selected edges as follows.
The left image is showing a selected edges or selected edges and the right images is the results after clicking "Loop" button.
Face Loop Selection (Available from CryENGINE 3.8.1)
The faces on the loop whose direction are set by the last two selected faces can be selected with this function as follows.
The left image shows the last selected faces and the right image shows the result of face loop selection from the selected faces.