This paper presents a novel approach, which relies on content-based guided image filtering and weighted semi-global optimization for fast and accurate disparity estimation. The approach uses a pixel-based cost term that combines gradient, Gabor-Feature and color information. The pixel-based matching costs are filtered by applying guided image filtering, which relies on rectangular support windows of two different sizes. In this way, two filtered costs are estimated for each pixel. Among the two filtered costs, the one that will be finally assigned to each pixel, depends on the local image content around this pixel. The filtered cost volume is further refined by exploiting weighted semi-global optimization, which improves the disparity estimation accuracy. Finally, the disparity refinement in outlier regions relies on a straightforward and time efficient outliers handling scheme and on a simple approach which deals with the disparity outliers at depth discontinuities. Experimental results on the Middlebury online stereo evaluation benchmark and 27 additional Middlebury stereo pairs, prove that our method is able to generate disparity maps with high accuracy while keeping the computational cost low.