DuracellEnergizer said:

Clint's characters is ...

*SPOILER BELOW!*

... heavily implied to be the ghost of Marshal Jim Duncan, come back for revenge against those who conspired in his murder (the prostitute among them).

*MORE SPOILERS!*

Yes you are probably right or else he's an avenging Angel. Renaming the town hell, the fires and the painting the town red is very old-testament in either case.

I do like movies that let the audience add their own interpretations. Recent films to pull this off like 'Drive', 'Gravity', 'Life of Pi' have all worked very well for me.