This tensioner is made from:
1. A 10mm bolt, long enough to go through the derailleur hanger, the tensioner arm, and a washer-and-nut or a 10mm axle nut.
2. A Baja Sports go-kart tensioner, about $10-15 from Tractor Supply Co, hardware stores, go-kart and mini bike dealers. It includes the arm and welded on bushing, and a neoprene wheel with sealed hi-speed bearings
3. An extension spring. (C-163 from Century Springs Co, available at many common hardware stores for $3-5 a pair. Other longer springs can work if they are about the same strength. It takes an "educated guess". )
4. A small bushing made from an aluminum can (see photo) to insulate the bolt threads from the brass bushing of the tensioner arm. I made it with scissors and a coca cola can.
5. Blue thread locker or nail polish,
6. A dab of grease.
7. A small hose clamp to fit around the right seat stay
8. A rubber shim made from a bicycle tube (or electrical tape) to insulate the frame from the hose clamp
9. A spring hook made from a piece of strong coat hanger wire. (makes changing the tire easier)
Enjoy! This tensioner is fairly simple in design and adjustment, works with a variety of chains, and is expected to last for decades.
I made mine for less than $20.
P.S. If you are using an unmodified frame, and a cassette style hub, this should work well. If you are using a cog (and single-speed spacers) that is not near the right side of the freehub body, you might have to install this so that the bolt is installed through the OUTSIDE of the derailleur hanger, and the tensioner is inboard! You can position the spring catch accordingly, so the spring runs to the left of the drive-side chain stay. Same goes for using a BMX freewheel on a hub made for a thread-on multi-speed freewheel, unless you re-space your axle to move the hub shell right and re-dish. Then the assembly shown above should work fine. You have lots of options that don't require compressing your frame.