This is a Blender add-on for isolating and framing a selected animation channel in the Graph Editor. It originated in a thread on blenderartists.org by Chad Gleason ('fahr'). It's not perfect (see Notes and Known Issues), but it does the job.
Usage instructions:
- Select the channel
- Move your mouse cursor to the Graph Editor
- Press Shift+V or choose Channel > Isolate and Frame from the menu.
The operator can work with your mouse cursor still in the Channels region of the Graph Editor, but not with the hotkey. Instead, you'll need to use the Space search feature and find "Isolate and Frame" there. Fortunately, Blender remembers your search, so subsequent uses can be pretty fast (Space > Enter).
Unfortunately, the hotkey will not work in the Channels region of the Graph Editor. For some reason, there's no way to set a hotkey that will work from there. In fact, Shift+V is actually assigned to a visibility toggle in that region, but it cannot be overridden. So, until that gets fixed, the fastest method is to use the Spacebar search workaround.
It would be nice if this happened automatically upon selecting an animation channel. Unfortunately, Blender's Python API doesn't have access to selection events. Maybe one day...