diff --git a/toonz/sources/common/tfx/tmacrofx.cpp b/toonz/sources/common/tfx/tmacrofx.cpp
index 2759545..4d4c2f7 100644
--- a/toonz/sources/common/tfx/tmacrofx.cpp
+++ b/toonz/sources/common/tfx/tmacrofx.cpp
@@ -220,9 +220,9 @@ TFx *TMacroFx::clone(bool recursive) const {
     assert(fx);
     clones[i] = fx->clone(false);
     assert(table.count(fx) == 0);
-    table[fx]                                = i;
+    table[fx] = i;
     if (fx == m_root.getPointer()) rootIndex = i;
-    TFx *linkedFx                            = fx->getLinkedFx();
+    TFx *linkedFx = fx->getLinkedFx();
     if (linkedFx && table.find(linkedFx) != table.end())
       clones[i]->linkParams(clones[table[linkedFx]].getPointer());
   }
@@ -476,9 +476,14 @@ void TMacroFx::loadData(TIStream &is) {
   std::string tagName;
   while (is.openChild(tagName)) {
     if (tagName == "root") {
+      // set the flag here in order to prevent the leaf macro fx in the tree
+      // to try to link this fx before finish loading
+      m_isLoading = true;
       TPersist *p = 0;
       is >> p;
       m_root = dynamic_cast<TFx *>(p);
+      // release the flag
+      m_isLoading = false;
     } else if (tagName == "nodes") {
       while (!is.eos()) {
         TPersist *p = 0;
@@ -495,6 +500,11 @@ void TMacroFx::loadData(TIStream &is) {
       // collecting params just after loading nodes since they may need on
       // loading "super" tag in case it is linked with another macro fx
       collectParams(this);
+      // link parameters if there is a waiting fx for linking with this
+      if (m_waitingLinkFx) {
+        m_waitingLinkFx->linkParams(this);
+        m_waitingLinkFx = nullptr;
+      }
     } else if (tagName == "ports") {
       int i = 0;
       while (is.matchTag(tagName)) {
@@ -567,5 +577,20 @@ void TMacroFx::saveData(TOStream &os) {
 }
 
 //--------------------------------------------------
+
+void TMacroFx::linkParams(TFx *src) {
+  // in case the src fx is not yet loaded
+  // (i.e. we are in loading the src fx tree),
+  // wait linking the parameters until loading src is completed
+  TMacroFx *srcMacroFx = dynamic_cast<TMacroFx *>(src);
+  if (srcMacroFx && srcMacroFx->isLoading()) {
+    srcMacroFx->setWaitingLinkFx(this);
+    return;
+  }
+
+  TFx::linkParams(src);
+}
+
+//--------------------------------------------------
 FX_IDENTIFIER(TMacroFx, "macroFx")
 // FX_IDENTIFIER_IS_HIDDEN(TMacroFx, "macroFx")
diff --git a/toonz/sources/include/tfx.h b/toonz/sources/include/tfx.h
index 734613f..8149fd1 100644
--- a/toonz/sources/include/tfx.h
+++ b/toonz/sources/include/tfx.h
@@ -373,7 +373,7 @@ public:
   TFx *clone(TFx *fx, bool recursive) const;
 
   void unlinkParams();
-  void linkParams(TFx *src);
+  virtual void linkParams(TFx *src);
 
   TFx *getLinkedFx() const;
 
@@ -543,7 +543,7 @@ inline std::string TFx::getFxType() const { return getDeclaration()->getId(); }
 //-------------------------------------------------------------------
 
 #define FX_DECLARATION(T)                                                      \
-  \
+                                                                               \
 public:                                                                        \
   const TPersistDeclaration *getDeclaration() const override;
 
diff --git a/toonz/sources/include/tmacrofx.h b/toonz/sources/include/tmacrofx.h
index 334459b..951b265 100644
--- a/toonz/sources/include/tmacrofx.h
+++ b/toonz/sources/include/tmacrofx.h
@@ -30,6 +30,9 @@ class DVAPI TMacroFx final : public TRasterFx {
 
   bool isaLeaf(TFx *fx) const;
 
+  bool m_isLoading          = false;
+  TMacroFx *m_waitingLinkFx = nullptr;
+
 public:
   static bool analyze(const std::vector<TFxP> &fxs, TFxP &root,
                       std::vector<TFxP> &roots, std::vector<TFxP> &leafs);
@@ -78,6 +81,10 @@ public:
   void compatibilityTranslatePort(int majorVersion, int minorVersion,
                                   std::string &portName) override;
 
+  void linkParams(TFx *src) override;
+  bool isLoading() { return m_isLoading; }
+  void setWaitingLinkFx(TMacroFx *linkFx) { m_waitingLinkFx = linkFx; }
+
 private:
   // non implementati
   TMacroFx(const TMacroFx &);