RssFetch trouble shoot

Hi im trying to set up RssFetch but im slightly confused and when I enter things it always says “Initializing ticker…”

please help me to fill in.

This is the code:

<?
/*
 ======================================================================
 Get, cache, and output contents of a RSS XML file
 Author: George at JavaScriptKit.com/ DynamicDrive.com
 Created: Feb 5th, 2006. Updated: Feb 5th, 2006
 ======================================================================
*/

header('Content-type: text/xml');

// -------------------------------------------------------------------
// Enter list of possible RSS feeds to fetch inside array:
// -------------------------------------------------------------------

$rsslist=array(
"BBC" => "https://newsrss.bbc.co.uk/rss/newsonline_uk_edition/front_page/rss.xml"
);

$cachefolder="cache"; //path to cache directory. No trailing "/". Set permission to read/write!

// -------------------------------------------------------------------
// Determine which RSS file to actually fetch
// Based on the value of the "id" parameter of the URL string mapping to the RSS array's key
// -------------------------------------------------------------------

$rssid=$_GET['id'];
$rssurl=isset($rsslist[$rssid])? $rsslist[$rssid] : die("Error: Can't find requested RSS in list.");
$localfile=$cachefolder. "/" . urlencode($rssurl); //Name cache file based on RSS URL

// -------------------------------------------------------------------
// Get the minutes to cache the local RSS file based on "cachetime" parameter of URL string
// -------------------------------------------------------------------

$cacheminutes=(int) $_GET["cachetime"]; //typecast "cachetime" parameter as integer (0 or greater)

// -------------------------------------------------------------------
// fetchfeed() gets the contents of an external RSS feed,
// and saves its contents to the "cached" file on the server
// -------------------------------------------------------------------

function fetchfeed(){
   global $rssurl, $localfile;
   $contents=file_get_contents($rssurl); //fetch RSS feed
   $fp=fopen($localfile, "w");
   fwrite($fp, $contents); //write contents of feed to cache file
   fclose($fp);
}

// -------------------------------------------------------------------
// outputrsscontent() outputs the contents of a RSS feed using the cached local RSS file
// It checks if a cached version of the RSS feed is available, and if not, creates one first.
// -------------------------------------------------------------------

function outputrsscontent(){
   global $rssurl, $localfile, $cacheminutes;
   if (!file_exists($localfile)){ //if cache file doesn't exist
      touch($localfile); //create it
      chmod($localfile, 0666);
      fetchfeed(); //then populate cache file with contents of RSS feed
   }
   else if (((time()-filemtime($localfile))/60)>$cacheminutes) //if age of cache file great than cache minutes setting
      fetchfeed();
   readfile($localfile); //return the contents of the cache file
}

outputrsscontent();
?>

———
what do i do in the section where it says $cachefolder=”cache”; //path to cache directory. No trailing “/”. Set permission to read/write!

I created a folder called “cachefolder” with permission 777, but i entered the URL for it as “/wp-content/cachefolder”

Looks simple but im lost.

Please help me.

Thanks