This is not natively a feature but I would imagine it isn’t too hard to make into a component. If you’re not willing to build it yourself or pay somebody to do it for you then there is nothing wrong with standard markdown format ([Wikipedia](https://en.wikipedia.org/wiki/Main_Page))
If you are a site admin and have certain things that always need to be a link you can visit Watched Words and add the word as a linked phrase so it will automatically become a link, but I’m not sure that’s what you want because it isn’t the Wikitext syntax.
