A modular structure, in which groups of tightly connected nodes could be resolved as separate entities, is a property that can be found in many complex networks. In this paper, we propose a algorithm for identifying communities in networks. It is based on a local measure, so-called loop coefficient that is a generalization of the clustering coefficient. Nodes with a large loop coefficient tend to be core inner community nodes, while other vertices are usually peripheral sites at the borders of communities. Our method gives satisfactory results for both artificial and real-world graphs, if they have a relatively pronounced modular structure. This type of algorithm could open a way of interpreting the role of nodes in communities in terms of the local loop coefficient, and could be used as a complement to other methods.