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Custom Component To Show Traffic Light Image

I have 4 or five custom objects each of which have start and end dates associated to them. Within each of the custom objects I have created custom traffic light images which track the end date fields e.g. if end date is greater than 8 days then Green, between 4 & 7 Yellow, below 4 then Red. 
The custom objects in question are all child objects of Accounts.

What I think would be a 'nice to have' feature is if I could show the traffic light information in a component on the Account page layout. Is this possible?
Ways to achieve it:
  1. You can use a formula field to display the image which would be a part of your details tab.
    • Help: https://help.salesforce.com/articleView?id=000007604&type=1
  2. If you need to show the image with some more information and something complex then ideally creating a lightning component with recordId attribute should do your work however you will need some time to develop it and I don't think its so complicated over here, but yes its possible.
Cheers Trailblazer.