I agree. The other thing that the OP can also do is to do a DB squat and put the front of his feet on a 10 lb plate to gain some elevation. This focuses on working your vastus medialis which strengthen the cartilage/ligaments around your knees. I would also suggest to take a glucosamine and chondroitin supplement if needed.
To the OP, I would try a Bulgarian Squat as well even with your own body weight especially if balance is an issue. Plie Squat is good. Most often people get injuries doing squat due to poor form and flexibility issues. Make sure you stretch after each workout and even on your day off from lifting. If you want to try Full Squat at some point, hip mobility is essential to this especially with your height.