NiTi alloy stands out as a promising material, particularly in biomedical, aerospace, and heat pump applications, owing to its biocompatibility and distinctive properties, including exceptional shape memory (SME) and pseudoelasticity. These properties arise from the alloy's capacity to undergo phase transformations during heating/cooling and loading/unloading cycles. The specific phase transformation temperatures and pseudoelastic behavior are heavily influenced by the composition of the alloy. The introduction of transition elements such as V, Cr, Mn, Fe, and Co in place of Ni and Ti can lower the martensite start (Ms) temperature, while substitution with Hf, Zr, Ag, and Au for Ni and Sc, Y, Hf, and Zr for Ti can elevate the Ms temperature. Consequently, it is imperative to comprehensively comprehend the effects of third alloying elements on the properties of these alloys from an atomic perspective. Molecular dynamics (MD) simulations, operating at the atomic level, offer a valuable means to explore the impact of various compositions, including the addition of a third element, on the alloy properties, thereby enhancing their performance. However, a significant challenge in MD simulations lies in selecting reliable interatomic potentials between the elements. Developing new potentials poses challenges, prompting the evaluation of existing potentials for ternary systems in this study, which will be compared with experimental results. While several interatomic potentials have been proposed for binary NiTi SMAs, limitations arise when extending to tertiary alloys. Existing studies have reported ternary interatomic potentials for NiTiV, NiTiNb, and NiTiHf, but these are insufficient for capturing the phase transformation of these tertiary systems. To address this, a hybrid model will be employed, combining different types of interatomic potentials such as modified embedded atom method (MEAM), embedded atom method (EAM), Lennard-Jones (LJ), and Morse potentials. This approach aims to capture the phase transformation of ternary alloys doped with elements like Cu, Hf, Pd, Pt, Sc, Ta, Mn, Zr, Y, and Au, which can increase transformation temperatures such as the martensite start temperature (Ms), martensite finish temperature (Mf), austenite start temperature (As) and Austenite finish temperature (Af), during cooling and heating processes. These alloys, known as high-temperature shape memory alloys (HT-SMAs), hold significant potential for diverse applications, including actuators, owing to their unique properties and enhanced transformation behaviours.