yes Yes, but excel uses the cpu ... so you'd need a VERY fast cpu ... lol! ... maybe cloud compute could help a little ...
Imagine you have an 64core/128thread monster AMD workstation CPU, but your Excel is just a singlethread program.... ROTFL!
Check out https://www.qmatix.com/ you can connect XLQ to I.B API or you can connect XLQ to iqfeed if you dont mind paying $120 to $150 a month for data.
If you are a UK resident you cant open a ThinkorSwim account. I think Charles Schwab has bought ThinkorSwim and this is being reviewed in a few months time.