Unfortunately this is often dependant on the location of the link, the browser in use, and the destination.
Not only that the link so created may not behave the way you want it to for example;
[[New Tiddler|file:///T:/!Working/test-cm6-in-26.html#New Tiddler]] will always open in a new tab.
I created the above using a pretty permalink button I just remade. To support pretty links to permalinks. TiddlyWiki to TiddlyWiki.
Buttons_permalink2.json (1.9 KB)
Note: if you drag the above link to a tiddlywiki;
It will import an untitled tiddler containing;
https://talk.tiddlywiki.org/uploads/short-url/xLj5CseY9uYjV7Iby9lsvGPUXll.json Buttons_permalink2.json
Or if dropped in a text field, only the link
However I have made similar buttons to generate html a record links. Installed browser extensions that allow r-click copy as markdown link and more.
The address bar in a browser is a link that does not come with a pretty version.
Another complication is encoding, in some cases you need to use encodeURI and other times you do not, if you then need to decode to make it look readable it is yet another step.
You can craft bookmarklets to capture an address then use a process to generate or extract a pretty title from the address.
I am not saying there is not a solution but it need a broad knowledge of the circumstances and use cases.
[Edited] I now include a version to create a permalink to a tiddler in the markdown form for here in talk.tiddlywiki and markdown tiddlers. Posted here shortly I am getting some inconsistencies
eg; Widget Attributes