So. I'm not a doctor, and generally I think that as a society we over google, etc. medical things to the point where we think that 30 minutes on the internet can counter 8+ years of medical school and training.
That said, if your injury is from overstretching the IT band, I have a tough time seeing how foam rolling (aka, putting more pressure on it) will heal it. If anything, there is a greater likelihood that the pressure you're putting on the band will create more tears. There are a bunch of articles out there about how people are enthusiastically foam rolling their IT bands and causing tears. On the other hand, increasing circulation to the area with gentle massage (long strokes) and rest make sense until the pain goes away, and then fixing the imbalances that caused the overstretching in the first instance.
That said, if your injury is from overstretching the IT band, I have a tough time seeing how foam rolling (aka, putting more pressure on it) will heal it. If anything, there is a greater likelihood that the pressure you're putting on the band will create more tears. There are a bunch of articles out there about how people are enthusiastically foam rolling their IT bands and causing tears. On the other hand, increasing circulation to the area with gentle massage (long strokes) and rest make sense until the pain goes away, and then fixing the imbalances that caused the overstretching in the first instance.