It’s not EXACTLY right, the control and reset pins are missing. But this is the core of a 555 timer. It is configured in astable mode. The switch is only there because EC cannot start the process for some reason. Activate the circuit, then close the switch for it to work. Green is timing capacitor charge and orange is output. The RC timing network is in the top right corner. I should also add this circuit is not capable of sinking current at the output like a real 555.