In memristor devices, the threshold switching effect is considered of paramount importance for a variety of applications ranging from reliable operation of crossbar architectures to emulating neuromorphic properties with artificial neural networks. In this work, we present a compact memristor model that utilizes the drift, diffusion and thermo-diffusion effects. These three effects are taken into consideration to derive the switching behavior of a memristor. The resistance of a memristor is calculated based on the evolution of a truncated cone shaped filament. The objective of this model is to achieve a realistic integration of switching mechanisms of the memristor device, while minimizing the overhead on computing resources and being compatible with circuit design tools. The model incorporates the effect of thermo-diffusion on the switching pattern, providing a different perception of the ionic transport processes, which enable the unipolar switching. SPICE simulation results provide an exact match with experimental results of Metal-Insulator-Metal (MIM) memristive devices.