Also, interestingly, the ITB doesn't actually exist as we have been shown it in anatomy books and pictures. Keep in mind that almost every single picture you have seen of an ITB will usually be a hand drawn illustration, or a photo of a specifically prepared dissection. When I was in our Anatomy wet labs at University, every dissection I saw had had been trimmed and cleaned, to clearly show the ITB down the outside of the thigh. A couple of years ago, I had the opportunity to do a wet lab dissection in Colorado Springs, in an amazing research lab there. One of the things that was astounding to me in observing an unprepared specimen was that the ITB does not exist, in the way I had been shown. There is a thickening of the fascia down the outside of the thigh, but it is continuous into the fascia of the front of the thigh, and also wraps around into the outer hamstrings on the back of the leg. There is also a continuation, down into the knee, then on to the fascia of the outer lower leg. At the upper end, the connection into the hip is continuous with the fascia that reaches up into the rib cage.
So it really is this whole lateral line that needs to be looked at, if there is tension down the outer thigh. Many people work on one just one segment, where they feel the most pain, often repeating the same exercise for years with no actual improvement.
Focus Points:
Focus on the whole lateral fascial line
Look at the muscles that feed into that area (Peroneals, TFL, Quadriceps, Lateral Hamstrings, TFL, Gluteals, Oblique Abdominals, Intercostals, lateral neck etc)
If you have been over gripping your gluteal muscles to control turnout, or your pelvic stability is not very good, then this chronic contraction will lay down more facial tissue on the outside of the hip
Chronic tension on the outside of the leg is often associated with weakness on the inside. Focus on improving stability and endurance in the deep inner thighs to stabilise the hip, rather than over-training the outer hip
Dealing with the instabilities and imbalances that are causing this tension will be far more effective than repeatedly rolling the outside of the thigh with a foam roller