A high resolution timer, set the tick duration (default 1s) and callback to be actioned on each tick - accurate to within ~1-5ms per tick and compensates automatically for drift over time.

HighResolutionTimer.js

var HighResolutionTimer = window.HighResolutionTimer = window.HighResolutionTimer || (function() {

  var HighResolutionTimer = function(options) {
    this.timer = false;

    this.total_ticks = 0;

    this.start_time = undefined;
    this.current_time = undefined;

    this.duration = (options.duration) ? options.duration : 1000;
    this.callback = (options.callback) ? options.callback : function() {};

    this.run = function() {
      this.current_time = Date.now();
      if (!this.start_time) { this.start_time = this.current_time; }
      
      this.callback(this);

      var nextTick = this.duration - (this.current_time - (this.start_time + (this.total_ticks * this.duration) ) );
      this.total_ticks++;

      (function(i) {
        i.timer = setTimeout(function() {
          i.run();
        }, nextTick);
      }(this));

      return this;
    };

    this.stop = function(){
      clearTimeout(this.timer);
      return this;
    };
    
    return this;
  };

  return HighResolutionTimer;

}());

timer_example.js

 var _timer = HighResolutionTimer({
    duration: 1000,
    callback: function(timer) {
      var hours = Math.floor( ( ( (1000 / timer.duration) * timer.total_ticks) / 60) / 24) % 24;
      var minutes = Math.floor( ( (1000 / timer.duration) * timer.total_ticks) / 60) % 60;
      var seconds = ( (1000 / timer.duration) * timer.total_ticks) % 60;
      console.log(hours, minutes, seconds);
    }
});

I ported this timer to TypeScript, if anyone is interested in, but I did not include support for using native HighResolutionTimer provided by some browsers.

https://gist.github.com/jvlppm/b4fd92e4579d59d0a9ea5656b865e0d2

Stop did not work for me either. I needed to create private property stopped:boolean and set it to true in stop method, then check it before create new timeout next time in run method. The problem with clearing the timeout is that you are not really clearing it for entire process, you are clearing it for the single setTimeout but the next time it creates the new one and it starts over.

example is wrong

it should be

 var _timer = new HighResolutionTimer({
    duration: 1000,
    callback: function(timer) {
      var hours = Math.floor( ( ( (1000 / timer.duration) * timer.total_ticks) / 60) / 24) % 24;
      var minutes = Math.floor( ( (1000 / timer.duration) * timer.total_ticks) / 60) % 60;
      var seconds = ( (1000 / timer.duration) * timer.total_ticks) % 60;
      console.log(hours, minutes, seconds);
    }
});