This has been requested a couple times, however there are some challenges for plugins to do so. Like i think you can identify the equiped item only by name while there are lot of items with same name in the game.
There is an external application - Lotro Companion that can do it, however you need to import data (by clicking a button). If you are not using it, i would give it a try, it has a lot of functionality you might want but did not know you wanted it