This is a quick instruction on how to add a YouTube Live video stream to VLC.
First visit the site where the YouTube Live Streaming is happening.
For example: https://www.youtube.com/channel/UCNKJf6d69jWt4AD41yEgawQ
Once on that page check the live streaming video and copy the URL. It is something like: https://www.youtube.com/watch?v=xxxxxxxxxxxxxx
Open up the VLC application and select "Media -> Open Network Stream...":
Put the YouTube Live URL and start playing the video with the "Play" button at the bottom.
Maybe some security warnings may appear, just accept them.