These are pretty high squats. When you read the book, it will explain why proper depth is important for safety, namely for the knees, but not exclusively so. Cutting off above parallel such as you're doing means your knees and their extensors (quads) are doing most of the work. Proper depth loads the hamstrings, adductors, and external rotators properly, and forces them to do the bulk of the work when you drive out of the hole.
The IT band pain is almost always caused by a pissed off glute medius. I used to be a runner and suffered from it a lot. Your improper squat is likely causing stress on said muscle for any number of reasons. Fixing the squat will largely render your history irrelevant.
2 Things:
1. Go watch
this video (best squat instruction ever) and read the blue book. If the elderly can squat properly, so can you.
2. Tripods are about $20 on Amazon. Invest in one and film from the proper angles as described in the "Technique" forum sticky.