That's possibly one of the reasons the SERP is not yet crowded for it.
Ahrefs is not aware of the existence of search terms like "backtesting spreadsheet" while the Adwords Keyword Planner puts the monthly search volume close to 1000 searches. That's already a market, especially with these financial tools that are easy to productize.
For a related search term, prepending "forex" in front of it, Ahrefs undershoots the monthly volume. The term is also marked as super easy, rating of <5.
Let's now look at the SERPs and some new content found on Reddit.
First 10 results for "forex backtesting spreadsheet"
Free Trading Log Spreadsheet
What to Include in a Forex Backtest Spreadsheet - EarnForex ...
Forex Manual Backtest – Backtesting Report and Using Excel
Free Excel Trading Journal - Babypips Forum
Forex Excel Spreadsheet For Backtesting Strategies - Algoji
Backtesting Spreadsheet Template? : r/Forex - Reddit
Strategy Backtesting in Excel - SpreadsheetML
Free Stuff - OTTrades
Free Backtesting Trading Strategy with Excel Spreadsheet
As you can see, there are no truly high-authority websites ranking for this search term. Also if you click on some of them, such as the AlgoJi resource, you will see the information is outdated and that usually, there is no spreadsheet to download. Contrast this to resources like the CoinPub which links a Google spreadsheet right from the top.
This looks like an opportunity for new low-authority websites or even Medium bloggers & co. The search intent here is obviously a spreadsheet, and SERP isn't delivering.
One of the paid tools that rank here puts the price of a backtesting spreadsheet to 24 USD.
Let's do the math then.
At 1000 searches a month, the top spot would get you 40% of that traffic, which is 400 users. if you can get 20% conversion (realistic with a rare but cheap item), you get 80 sales per month which brings in 1920 USD at the competitor's price. Not bad eh?
On backtesting and why it has a market
Usually traders don't backtest at all because of time constraints or lack of skills to make things easier with spreadsheets; I made this spreadsheet just so that people can learn how backtests work without having to worry about manually inputting data into a backtesting spreadsheet. The backtesting spreadsheet will help you see if your strategy makes sense or not, or just for an extended backtest to see if your strategy follows through momentum swings and keeps making profits regardless.
That is to say, backtesting is used by serious traders who understand they need to put in money to gain money. These people are not difficult to sell to, as long as you actually provide value (they are no fools either).