Another issue is that threaded rod is weaker than steel rod.
I would use drill rod - it's precisely machined tool steel rod available at relatively low cost. Any metal supplier should have it, but probably not the box stores. It is sold unhardened, so you can drill it and machine it. It can be hardened, but you should not need to harden it for your application.
A cotter pin and washer will be fine to constrain end to end movement, as LCHIEN suggested.
I would use drill rod - it's precisely machined tool steel rod available at relatively low cost. Any metal supplier should have it, but probably not the box stores. It is sold unhardened, so you can drill it and machine it. It can be hardened, but you should not need to harden it for your application.
A cotter pin and washer will be fine to constrain end to end movement, as LCHIEN suggested.
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