This will immediately become worthless if the exchanges start charging for Cancels or Cancel and Replace orders.
Just to complete a list of resources - you may want to take a look at this tool. http://www.tradinggeeks.net/downloads/interactive-brokers-excel-trader/
Beware: This still requires heavy enhancements like circular buffers to be able to look-back at prices and develop moving averages, etc. Platforms like Multicharts and Tradestation have this built-in already.
Agree, but they cost 20x to 50x more, per year. So they are, of course, in a different league, however not as easily extensible as Excel.