So during my training I have been told by multiple people that my greatest weakness is I roll under pressure. I have been trying to fix this and do think I have gotten better at it, but sometimes I still roll like a madman. It tends to happen whenever I miss an attack and I say to my self "Oh crap I am vulnerable! TIME TO ROLL!" So I am curios, when is the best possible time to roll and actually capitalize off of it? If I knew the proper time to do it, I feel I would not do it as much at improper moments.
Rolling is generally a sub-optimal option no matter what. It means you have been placed into a disadvantageous position, and you need a quick getaway to get to "higher ground". Rolling is slower than simply running, and leaves you in a poor position to counterattack 90% of the time. It might give you some space, but your opponent will catch up and be able to punish with a dash attack or ranged attack if you abuse it too much.
So, the right question isn't "when is a good time to roll?" It's "when is rolling going to hurt me more than it helps?"
1)
Never roll into an enemy as an offensive option. You might as well jump off the edge, because even Ganondorf can punish that with his Fsmash.
2)
Don't roll away if you're too close to the edge. The primary advantage of a roll, spacing, is wasted here, and you end up in more vulnerable lag frames than if you had just spot dodged.
3)
Try not to roll behind an enemy if you can help it. It can save you if your enemy is using a dangerous, laggy move, but it can be punished with most characters' down-smash, and if you get too predictable about this, you might even eat an Fsmash.
4)
Don't roll when running, walking, or jumping would suffice. Rolling across the stage is nothing but annoying, and isn't safe either. Running away can have exactly the same effects as rolling away, except you are in a much better position to attack if your opponent chases you.