1. A method performed by at least one computer processing device of reducing structured noise in a video sequence, the method comprising: defining a first local patch for a pixel in a frame of the video sequence; projecting a location of the pixel into at least some adjacent frames of the video sequence using a motion estimation algorithm to obtain projected pixel locations, wherein individual projected pixel locations are associated with corresponding local patches; selecting sets of patches from the at least some adjacent frames to which the location of the pixel was projected; determining an average value for a combined set that includes the sets of patches selected from the at least some adjacent frames; and replacing the pixel in the first local patch with the average value, wherein the selecting the sets of patches from the at least some adjacent frames to which the location of the pixel was projected comprises: sampling an individual adjacent frame to select an initial set of initial patches; storing the initial set of initial patches in a priority data structure that orders the initial patches in the initial set based on first content similarities of the initial patches with an individual corresponding local patch in the individual adjacent frame; and refining the initial set of initial patches using an iterative process, wherein the iterative process comprises: defining a proposed set of patches, wherein the proposed set includes neighboring patches of an individual initial patch in the initial set; determining second content similarities for the neighboring patches in the proposed set with the individual corresponding local patch; and replacing the individual initial patch in the priority data structure with an individual neighboring patch when a corresponding second content similarity of the individual neighboring patch is greater than a corresponding first content similarity of the individual initial patch.