Is there currently any way to automatically switch between streams for a given channel when one of them goes bad?

Let's say there are these streams for Channel X:

• Channel X FHD (IPTV Provider 1)
• Channel X HD (IPTV Provider 1)
• Channel X SD (IPTV Provider 1)
• Channel X (IPTV Provider 2)

Is there some service / software that would allow for the merging and selection of the best stream for Channel X at any given time?

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*Reason I ask is because I have to manually switch streams when one goes bad.