Highlight between tags in Custom Code blocks

Some editors do this and some don't so I thought I'd take a chance that it might be doable.

I have used a few editors where if you have tags wrapped around text such as p, em, span, etc, when you double click to select text, instead of getting the entire line when double double clicking, it will select only what is between the tags around the text and then if you triple click (or more) it will do the whole line. I would really love it if we could get the "between tags" in there so that it would make editing text easier as we wouldn't always have to then drag to highlight the text.

Any chance we can get that in the text editor area for Custom Code, JS etc.?

The highlighting of opening and closing tags would be nice too, unless this is already a thing and I’m just missing something.