Context. Stellar flares are energetic events occurring in stellar atmospheres. They have been observed on various stars using photometric light curves and spectra. On some cool stars, flares tend to release substantially more energy than solar flares. Spectroscopic observations have revealed that some spectral lines exhibit asymmetry in their profile in addition to an enhancement and broadening. Asymmetries with enhanced blue wings are often associated with coronal mass ejections, while the origin of red asymmetries is currently not well understood. A few mechanisms have been suggested, but no modeling has been performed so far. Aims. We observed the dMe star AD Leo using the 2-meter Perek telescope at Ondřejov observatory, with simultaneous photometric light curves. In analogy with solar flares, we modeled the Hα line emergent from an extensive arcade of cool flare loops and explain the observed asymmetries using the concept of coronal rain. Methods. We solved the non-LTE (departures from local thermal equilibrium) radiative transfer in Hα within cool flare loops taking the velocity distribution of individual rain clouds into account. For a flare occurring at the center of the stellar disk, we then integrated radiation emergent from the whole arcade to obtain the flux from the loop area. Results. We observed two flares in the Hα line that exhibit a red wing asymmetry corresponding to velocities up to 50 km s−1 during the gradual phase of the flare. Synthetic profiles generated from the model of coronal rain have enhanced red wings that are quite compatible with observations.