This lag fix has helped me out a lot so thought i’d share the joy! Worked especially well with me being in europe watching US streams so hopefully will help vica versa.
VLC Media Player: http://www.videolan.org/vlc/index.html
.bat file contents
cd c:program files (x86)livestreamer
livestreamer.exe -url twitch.tv/STREAMNAMEHERE best
Save as a .bat file in all files.