Orientation correlation has been added to the templatematch function. It often out performs NCC, and has good performance on Landsat 7 images with SLC off.
You can also do it manually, which used to be the solution for doing it. ImGRAFT can also do orientation correlation if you apply a simple "orientation" pre-processing step of the images. Here's how you might implement that:
Fitch et al. 2002: http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.64.5662&rep=rep1&type=pdf