We show that the category of graded modules over a finite-dimensional graded algebra admitting a triangular decomposition can be endowed with the structure of a highest weight category. When the algebra is self-injective, we show furthermore that this highest weight category has tilting modules in the sense of Ringel. This provides a new perspective on the representation theory of such algebras, and leads to several new structures attached to them. There are a wide variety of examples in algebraic Lie theory to which this applies: restricted enveloping algebras, Lusztigs small quantum groups, hyperalgebras, finite quantum groups, and restricted rational Cherednik algebras.