For a closest emulation of a multi-head tape machine, I’d go with the QuadraVox, or Resonator algorithm.  Either one will give you 4 delays, with variable ‘head spacing’, and the ability to turn each ‘head’  on or off.

Resonator also provides 4 filters, & feedback capabilities.  QuadraVox is almost too clean, & any pattern repeats have to come from a 2nd delay line in series.  But it’s also the best algorithm to illustrate the concept:

• PITCH A, B, C, D should always be at UNISON, or OFF; depending on the ‘Tape Head Matrix’ program.
• DELAY GRP should be at .A.B.C.D, to simulate four equally-spaced tape heads.
• Tap the DELAY D time for the maximum delay length.
• KEY and MODE don’t matter.  PITCH MIX centered; MIX to taste.

Then set each ‘head’ to UNISON or OFF, with the ‘Tape Head Mode Select’ chart translating like this:

1. HEAD 1  =  PITCH A
2. HEAD 2  =  PITCH B
3. HEAD 3  =  PITCH C
4. HEAD 4  =  PITCH D

Resonator adds features; enhancing the realism.  It’s the same concept, presented in a slightly different way:

• NOTE 1, 2, 3, 4 will be at OFF, or ‘ON‘ with a variable tuned filter position.
• RHYTHM should be at 2.4.6.8 to simulate 4 equally-spaced playback heads.
• Tap the LENGTH for the maximum delay time for all four ‘heads’.
• RESONANCE isn’t absolutely required, but the high and low pass filters are still active.
• FB1 is a more straightforward pattern regeneration.  FB2 will shift & degrade the pattern.
• MIX to taste.  A tiny touch of REVERB adds some ‘glue’.

The easiest place to fine-tune the ‘heads’ and filter positions is in the NOTE GRID view:

1. HEAD 1  =  NOTE 1
2. HEAD 2  =  NOTE 2
3. HEAD 3  =  NOTE 3
4. HEAD 4  =  NOTE 4