When Roku redesigned the Guide for both the Roku Streaming channels and the OTA/Antenna, they kind of broke the functionality/utility of Managing Channels.
The old way was to use the * button on the Roku Remote and select the "Favorites" option. This would allow the Guide to only load the channels you added to Favorites. This way if you pressed the Left arrow button (to bring up the guide), you would stay in the Favorites Guide. Or, while watching a channel, if you pressed the Up or Down buttons, it would cycle between the channels in the Favorites Guide.
The new way requires you to use the Left arrow to back out of the channel (again bringing up the guide), navigate to the left sidebar, select Favorites icon again, and then choose another channel from within the Favorites. Basically, the Favorites menu is no longer "sticky".
Part of the issue is that when you press the Left arrow button to bring up the guide, the Favorites is not at the top so you can just easily select another Favorited channel. It defaults to All Channels. You then have to arrow down past All Channel, Recents, Recommended, and then Favorites. Then you need to press Right arrow button again to enter the channels list and then arrow up or down to select a Favorited channel.
The Roku team unnecessarily complicated the procedure with this guide update. If they just allowed the sidebar to scroll to the last selection, it would be a big improvement. (ie. If user selects Favorites, then Favorites should be cycled to the top so when the user wants to switch to another Favorited channel, the Favorites selection is right there. You wouldn't have to start scrolling down to look for the Favorites guide again.)
I think what @RokuKarla was intimitating, was that you could select "Recents" as kind of a shortcut to the Favorites. (the Recents automatically includes your Favorites, but also includes anything else you may have chosen during a session). Basically saves you a couple of scrolling steps, but does not confine the channels to your Favorites.
Roku Community Streaming Expert
Just another Roku user... I am not a Roku employee.
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