Is it possible to use script as custom Photoshop Panel...?

PowerPro will do everything you need and much much more. Design all your own on-screen buttons that will carry out any keyboard shortcut/command/run any script you wish. You can entirely customize Photoshop any way you wish, make all your own toolbars, etc. Fully functional with Photoshop and every other program imaginable on a Windows system.

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Different things that you can do

- Make a dialog window in javascript that can exists while a script is running. These can have buttons etc. to control the script, but might not be very responsive if lots of things going on

- You can use Adobe Configurator to create a simple panel in Photoshop that intended to be personal collection of tools but are also good for starting scripts (~bookmark). For example you can put information, pictures and a button to run your script, but can't access Photoshop side.

- You can use the CC html panels that can do full html+css+js and talk to Photoshop side (e.g. fetch/set info, run scripts). Most capable and future proof and not so hard after the beginning, but CC only

- Use C SDK to code a panel

We've done a Configurator panel for CS6 that is basically just a place to run the scripts (but you can do things like settings by running "update_settings.jsx" that creates a dialog window in Photoshop to edit settings). Then we have a HTML panel CC that offers more capabilities (editing in panel). A hard part is also "sharing code", i.e. keep your jsx scripts so they can be run from both CS6 and CC.

With just javascript, you can only create modal dialog boxes. If you want to create a modaless panel, you need to use, at least with the new version of CC, extendscript, javascript, html, css, and html.