We propose a novel coupled resonator optical waveguide (CROW) structure that is made up of a waveguide loop. We theoretically investigate the forbidden band and conduction band conditions in an infinite periodic lattice. We also discuss the reflection- and transmission- spectra, group delay in finite periodic structures. Light has a larger group delay at the band edge in a periodic structure. The flat band pass filter and flat-top group delay can be realized in a non-periodic structure. Scattering matrix method is used to calculate the effects of waveguide loss on the optical characteristics of these structures. We also introduce a tunable coupling loop waveguide to compensate for the fabrication variations since the coupling coefficient of the directional coupler in the loop waveguide is a critical factor in determining the characteristics of a loop CROW. The loop CROW structure is suitable for a wide range of applications such as band pass filters, high Q microcavity, and optical buffers and so on.