When it flares up:
Rest
Ice
Foam Roller
Then yoga when it starts to get better. Yoga is great for opening up the hips.
Maintenance:
Hip mobility exercises before I work out - the vid you posted is good. Lots of stuff out there.
Foam roller after
A strong posterior chain - squats/deadlifts/cleans/push press/lunges/concept rower.
Not sitting too much - seriously, what caused my last (and only) flare up after my initial injury was too much sitting in a cramped space.
Edit: Since you mentioned hiking while carrying stuff on your back as an issue, consider raising your waist belt. My initial injury was caused by wearing my waist belt too low on a 18 mile day hike (okay, it was obviously tenuous before that but still that extra pressure at the top of the IT band = no bueno).
We heard you in our twilight caves, one hundred fathom deep below, for notes of joy can pierce the waves, that drown each sound of war and woe.
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