The scale-resolving simulation of high speed compressible flow through direct numerical simulation (DNS) or large eddy simulation (LES) requires shock-capturing schemes to be more accurate for resolving broadband turbulence and robust for capturing strong shock waves. In this work, we develop a new paradigm of dissipation-adjustable, shock capturing scheme to resolve multi-scale flow structures in high speed compressible flow. The new scheme employs a polynomial of n-degree and non-polynomial THINC (Tangent of Hyperbola for INterface Capturing) functions of m-level steepness as reconstruction candidates. These reconstruction candidates are denoted as P n T m. From these candidates, the piecewise reconstruction function is selected through the boundary variation diminishing (BVD) algorithm. Unlike other shock-capturing techniques, the BVD algorithm effectively suppresses numerical oscillations without introducing excess numerical dissipation. Then, an adjustable dissipation (AD) algorithm is designed for scale-resolving simulations. This novel paradigm of shock-capturing scheme is named as P n T m− BVD− AD. The proposed P n T m− BVD− AD scheme has following desirable properties. First, it can capture large-scale discontinuous structures such as strong shock waves without obvious non-physical oscillations while resolving sharp contact, material interface and shear layer. Secondly, the numerical dissipation property of P n T m− BVD− AD can be effectively adjusted between n+ 1 order upwind-biased scheme and non-dissipative n+ 2 order central scheme through a simple tunable parameter λ. Thirdly, with λ= 0.5 the scheme can recover to n+ 2 order non-dissipative central interpolation for smooth solution over all wavenumber, which is preferable for solving small-scale structures in DNS as well as resolvable-scale in explicit LES. Finally, the under-resolved small-scale can be solved with the dissipation adjustable algorithm through the so-called implicit LES (ILES) approach. Through simulating benchmark tests involving multi-scale flow structures and comparing with other central-upwind schemes, the superiority of the proposed scheme is evident. For instance, the simulation results of the supersonic planar jet show that P n T m− BVD− AD schemes can achieve competitive results as P n+ 2 T m− BVD schemes which utilize a higher degree of reconstruction polynomial. Thus, in comparison with the previous work, the proposed P n T m− BVD− AD schemes have the benefit of a more compact stencil and lower cost. In summary, this work provides an alternative scheme for solving multi-scale problems in high speed compressible flows.