Calvert-Lewin hit a hat-trick in yesterday's 5-2 rout of West Brom.
"What he's done is put himself in the right positions, and arrived at the right time to be there to flick them in," Cole told BT Sport following Everton's win which sent them top of the Premier League table.
"They're all centre forward goals. It's falling to him and he's tapping them in. He was an old school centre forward, he'd run the channels, and he's now put the finishing touches to his game.
"He's started the season very well. England will be looking. It's a massive opportunity for him [the Wales game]. He's got an old head on his shoulders and you can see he's going to get better and better."