A system and process for generating High Dynamic Range (HDR) video is presented which involves first capturing a video image sequence while varying the exposure so as to alternate between frames having a shorter and longer exposure. The exposure for each frame is set prior to it being captured as a function of the pixel brightness distribution in preceding frames. Next, for each frame of the video, the corresponding pixels between the frame under consideration and both preceding and subsequent frames are identified. For each corresponding pixel set, at least one pixel is identified as representing a trustworthy pixel. The pixel color information associated with the trustworthy pixels is then employed to compute a radiance value for each pixel set to form a radiance map. A tone mapping procedure can then be performed to convert the radiance map into an 8-bit representation of the HDR frame.