Cockroach Pig can be used to analyze Baccarat patterns by comparing entries on the Big Road with those on its accompanying charts. Specifically, red represents a similarity in the entries, while blue indicates randomness or lack of similarity. This means that if an entry three cells to the left and one cell up from the newest entry in the Big Road is the same, then a red circle should be marked. On the other hand, if there is no variation between entries, a blue circle should be used instead.