A quick perusal of Google Scholar reveals about every combination of wording, spacing, and hyphenation imaginable has been used both in titles and in text.
This is probably going to get closed as primarily opinion based, but I checked a few options on Google Scholar and multiparameter-based was the most common of those I checked that seemed to use one term consistently and be well written in general.
In a related question — Existence of "multi" in US English — tchrist wrote "Multi- is not a word; it’s a prefix. Usually American publishers do not want it hyphenated, although British ones often do." and "The style sheet from O’Reilly says: ‘Unless part of a proper noun, close up words with the prefixes “multi”, “pseudo”, “non”, and “sub” (e.g., “multiuser”, “pseudoattribute”, “nonprogammer”, and “subprocess”).’ "
For a title, the easiest-to-justify options would be "Multiple Parameter Based", "Multi-Parameter-Based", and Multiparameter-Based". If you went with "Multi-Parameter-Based", be aware that some publishers will want the size of the two hyphens to be different. That is a matter of house style.
"Multiparametric" seems to be an irregular variant. Parametric means of parameters, so it can refer to one or more than one. Multiparametric suggests, if anything, multiple parameterizations of a system.