I would put the up / down motion in the hinge. Take a piece of pipe 3 feet long, 1 inch OD. Take 5 pieces of larger pipe that will allow the 1" to have motion, nothing tight here, have a 1/16th or 1/8th of clearance. It will be outside inthe weather and with lots of clearance it will not need lube. Weld a tab to the 3 with holes to allow screwing to the (assumed ) wood post. Spaced out at each end and middle of the 3 foot "pin". Weld the other 2 to the gate (assumed to be metal), spaced in between the other 3. Weld a stop on the top of the pin so it does not pass on through but is allowed to rotate has needed. Put a fixed wheel near the middle of the gate, so the wheel takes most all the gate weight so the gate is not hanging on the hinge at any point in it's swing.