Have someone take a look at your squat technique.
You could have reached tissue tolerance for the deviations in technique.
IT Band stuff can originate at the hip and just below.

Are you addressing the area which is bothering you or the IT Band?
Episode 61: IT Band Hell, And Help…
Episode 142: Tight IT Band and Hip Flexor Fix: Runners?
Pro Episode # 35 – MWod Pro-User Request Friday: The IT Band Primer
Monday January 9,2017 IT Band
Thursday, April 6th, 2017 – Hips   This hits the outside you mentioned

I am dealing with exactly this as well. It reaches down to the middle of my IT band and sometimes above the knee. Feels like I lose all my power coming out of the bottom of a squat. Really frustrating. @franck have you found any of those videos to help you?

Maiello35,
Have you seen improvements in your situation?
What have you been doing to address this?

Hi Kaitlin, I have done the things recommended above a few times and some of the others I have found on the site. Including some low back work. It has helped but the pain is still there. One other thing I believed helped is switching to flat shoes for squatting instead of oly lifters.

Good to hear you are finding some improvement.
Nice to hear you found changing to flat shoes for squatting has helped.

Couple others to check out
Thursday, May 31st, 2018 – Improve IT Band Pain
Go to the Daily Maintenance scroll down to the 30:00 San Dimas.
Have you voodoo banded musculature around the IT Band?
Stay consistent for a week or so and see how it is. It didn’t get here in a day or two so it might take a few to resolve.