Unfortunately there is no way to clear a parameter value. Conceptually this is questionable - a parameter had a value at one time, you cannot say after a while that that value was not there.
There is an expiration setting on the parameter; I don't know if it's feasible in your case to set the validity time for the parameter when you first set its value. If you can do that, then the parameter will appear as expired after that time passes.
Probably we need to expose that expiration time in the algorithm API and that's something which we can easily do if it will help you.
nicolae