diff --git a/changelogs/fragments/370-fixes.yml b/changelogs/fragments/370-fixes.yml
new file mode 100644
index 00000000..264938bd
--- /dev/null
+++ b/changelogs/fragments/370-fixes.yml
@@ -0,0 +1,3 @@
+bugfixes:
+  - "Fix rendering of ``HORIZONTALLINE`` in reStructuredText output. An earlier fix for leading whitespace mangled the resulting ``raw`` directive
+     (https://github.com/ansible-community/antsibull-docs/pull/370)."
diff --git a/src/antsibull_docs/jinja2/filters.py b/src/antsibull_docs/jinja2/filters.py
index f9e76c22..e66dd34a 100644
--- a/src/antsibull_docs/jinja2/filters.py
+++ b/src/antsibull_docs/jinja2/filters.py
@@ -259,6 +259,17 @@ def column_width(string: str) -> int:
     return _column_width(string)
 
 
+def _lstrip(line: str, lines: list[str], no: int) -> str:
+    if (
+        no >= 2
+        and lines[no - 2].startswith(".. raw:: ")
+        and lines[no - 1] == ""
+        and line.startswith("  ")
+    ):
+        return line
+    return line.lstrip()
+
+
 def rst_indent(
     value: str, width: t.Union[int, str], first: bool = False, blank: bool = False
 ) -> str:
@@ -277,7 +288,7 @@ def rst_indent(
     lines = (value + "\n").splitlines()
 
     # Remove trailing whitespace
-    stripped_lines = [line.lstrip() for line in lines]
+    stripped_lines = [_lstrip(line, lines, no) for no, line in enumerate(lines)]
 
     if blank:
         rv = ("\n" + indent).join(stripped_lines)
diff --git a/tests/functional/ansible-doc-cache-all-others.json b/tests/functional/ansible-doc-cache-all-others.json
index 60e73bd1..17f01eac 100644
--- a/tests/functional/ansible-doc-cache-all-others.json
+++ b/tests/functional/ansible-doc-cache-all-others.json
@@ -23931,7 +23931,9 @@
      "description": [
       "Foo bar.",
       "See O(ns2.col.foo#role:main:foo_param_1) for a random role parameter reference. And O(ns2.col.foo#role:main:foo_param_2=42) for one with a value.",
-      "Reference using alias - O(ns2.col.foo_redirect#module:bar) and O(ns2.col.foo_redirect#module:baz)."
+      "Reference using alias - O(ns2.col.foo_redirect#module:bar) and O(ns2.col.foo_redirect#module:baz).",
+      "HORIZONTALLINE",
+      "Another line."
      ],
      "filename": "ansible_collections/ns2/col/plugins/modules/foo2.py",
      "has_action": false,
@@ -23940,7 +23942,8 @@
       "bar": {
        "description": [
         "Some bar.",
-        "See O(ns2.col.foo#role:main:foo_param_1) for a random role parameter reference. And O(ns2.col.foo#role:main:foo_param_2=42) for one with a value."
+        "See O(ns2.col.foo#role:main:foo_param_1) for a random role parameter reference. And O(ns2.col.foo#role:main:foo_param_2=42) for one with a value.",
+        "Some text. HORIZONTALLINE More text."
        ],
        "type": "str"
       }
diff --git a/tests/functional/ansible-doc-cache-all.json b/tests/functional/ansible-doc-cache-all.json
index 987f3e03..9ce2b1a9 100644
--- a/tests/functional/ansible-doc-cache-all.json
+++ b/tests/functional/ansible-doc-cache-all.json
@@ -23848,7 +23848,9 @@
      "description": [
       "Foo bar.",
       "See O(ns2.col.foo#role:main:foo_param_1) for a random role parameter reference. And O(ns2.col.foo#role:main:foo_param_2=42) for one with a value.",
-      "Reference using alias - O(ns2.col.foo_redirect#module:bar) and O(ns2.col.foo_redirect#module:baz)."
+      "Reference using alias - O(ns2.col.foo_redirect#module:bar) and O(ns2.col.foo_redirect#module:baz).",
+      "HORIZONTALLINE",
+      "Another line."
      ],
      "filename": "ansible_collections/ns2/col/plugins/modules/foo2.py",
      "has_action": false,
@@ -23857,7 +23859,8 @@
       "bar": {
        "description": [
         "Some bar.",
-        "See O(ns2.col.foo#role:main:foo_param_1) for a random role parameter reference. And O(ns2.col.foo#role:main:foo_param_2=42) for one with a value."
+        "See O(ns2.col.foo#role:main:foo_param_1) for a random role parameter reference. And O(ns2.col.foo#role:main:foo_param_2=42) for one with a value.",
+        "Some text. HORIZONTALLINE More text."
        ],
        "type": "str"
       }
diff --git a/tests/functional/ansible-doc-cache-ansible.builtin-ns.col2-ns2.col.json b/tests/functional/ansible-doc-cache-ansible.builtin-ns.col2-ns2.col.json
index 511b5b34..0ccd9b3d 100644
--- a/tests/functional/ansible-doc-cache-ansible.builtin-ns.col2-ns2.col.json
+++ b/tests/functional/ansible-doc-cache-ansible.builtin-ns.col2-ns2.col.json
@@ -23848,7 +23848,9 @@
      "description": [
       "Foo bar.",
       "See O(ns2.col.foo#role:main:foo_param_1) for a random role parameter reference. And O(ns2.col.foo#role:main:foo_param_2=42) for one with a value.",
-      "Reference using alias - O(ns2.col.foo_redirect#module:bar) and O(ns2.col.foo_redirect#module:baz)."
+      "Reference using alias - O(ns2.col.foo_redirect#module:bar) and O(ns2.col.foo_redirect#module:baz).",
+      "HORIZONTALLINE",
+      "Another line."
      ],
      "filename": "ansible_collections/ns2/col/plugins/modules/foo2.py",
      "has_action": false,
@@ -23857,7 +23859,8 @@
       "bar": {
        "description": [
         "Some bar.",
-        "See O(ns2.col.foo#role:main:foo_param_1) for a random role parameter reference. And O(ns2.col.foo#role:main:foo_param_2=42) for one with a value."
+        "See O(ns2.col.foo#role:main:foo_param_1) for a random role parameter reference. And O(ns2.col.foo#role:main:foo_param_2=42) for one with a value.",
+        "Some text. HORIZONTALLINE More text."
        ],
        "type": "str"
       }
diff --git a/tests/functional/ansible-doc-cache-ansible.builtin-ns2.col.json b/tests/functional/ansible-doc-cache-ansible.builtin-ns2.col.json
index 6f41c56c..d3118ea1 100644
--- a/tests/functional/ansible-doc-cache-ansible.builtin-ns2.col.json
+++ b/tests/functional/ansible-doc-cache-ansible.builtin-ns2.col.json
@@ -23007,7 +23007,9 @@
      "description": [
       "Foo bar.",
       "See O(ns2.col.foo#role:main:foo_param_1) for a random role parameter reference. And O(ns2.col.foo#role:main:foo_param_2=42) for one with a value.",
-      "Reference using alias - O(ns2.col.foo_redirect#module:bar) and O(ns2.col.foo_redirect#module:baz)."
+      "Reference using alias - O(ns2.col.foo_redirect#module:bar) and O(ns2.col.foo_redirect#module:baz).",
+      "HORIZONTALLINE",
+      "Another line."
      ],
      "filename": "ansible_collections/ns2/col/plugins/modules/foo2.py",
      "has_action": false,
@@ -23016,7 +23018,8 @@
       "bar": {
        "description": [
         "Some bar.",
-        "See O(ns2.col.foo#role:main:foo_param_1) for a random role parameter reference. And O(ns2.col.foo#role:main:foo_param_2=42) for one with a value."
+        "See O(ns2.col.foo#role:main:foo_param_1) for a random role parameter reference. And O(ns2.col.foo#role:main:foo_param_2=42) for one with a value.",
+        "Some text. HORIZONTALLINE More text."
        ],
        "type": "str"
       }
diff --git a/tests/functional/ansible-doc-cache-ns.col1-ns.col2-ns2.col-ns2.flatcol.json b/tests/functional/ansible-doc-cache-ns.col1-ns.col2-ns2.col-ns2.flatcol.json
index dbfac0e5..bded4325 100644
--- a/tests/functional/ansible-doc-cache-ns.col1-ns.col2-ns2.col-ns2.flatcol.json
+++ b/tests/functional/ansible-doc-cache-ns.col1-ns.col2-ns2.col-ns2.flatcol.json
@@ -2137,7 +2137,9 @@
      "description": [
       "Foo bar.",
       "See O(ns2.col.foo#role:main:foo_param_1) for a random role parameter reference. And O(ns2.col.foo#role:main:foo_param_2=42) for one with a value.",
-      "Reference using alias - O(ns2.col.foo_redirect#module:bar) and O(ns2.col.foo_redirect#module:baz)."
+      "Reference using alias - O(ns2.col.foo_redirect#module:bar) and O(ns2.col.foo_redirect#module:baz).",
+      "HORIZONTALLINE",
+      "Another line."
      ],
      "filename": "ansible_collections/ns2/col/plugins/modules/foo2.py",
      "has_action": false,
@@ -2146,7 +2148,8 @@
       "bar": {
        "description": [
         "Some bar.",
-        "See O(ns2.col.foo#role:main:foo_param_1) for a random role parameter reference. And O(ns2.col.foo#role:main:foo_param_2=42) for one with a value."
+        "See O(ns2.col.foo#role:main:foo_param_1) for a random role parameter reference. And O(ns2.col.foo#role:main:foo_param_2=42) for one with a value.",
+        "Some text. HORIZONTALLINE More text."
        ],
        "type": "str"
       }
diff --git a/tests/functional/ansible-doc-cache-ns.col1-ns2.col-ns2.flatcol.json b/tests/functional/ansible-doc-cache-ns.col1-ns2.col-ns2.flatcol.json
index 1352d28b..64ef4c56 100644
--- a/tests/functional/ansible-doc-cache-ns.col1-ns2.col-ns2.flatcol.json
+++ b/tests/functional/ansible-doc-cache-ns.col1-ns2.col-ns2.flatcol.json
@@ -1296,7 +1296,9 @@
      "description": [
       "Foo bar.",
       "See O(ns2.col.foo#role:main:foo_param_1) for a random role parameter reference. And O(ns2.col.foo#role:main:foo_param_2=42) for one with a value.",
-      "Reference using alias - O(ns2.col.foo_redirect#module:bar) and O(ns2.col.foo_redirect#module:baz)."
+      "Reference using alias - O(ns2.col.foo_redirect#module:bar) and O(ns2.col.foo_redirect#module:baz).",
+      "HORIZONTALLINE",
+      "Another line."
      ],
      "filename": "ansible_collections/ns2/col/plugins/modules/foo2.py",
      "has_action": false,
@@ -1305,7 +1307,8 @@
       "bar": {
        "description": [
         "Some bar.",
-        "See O(ns2.col.foo#role:main:foo_param_1) for a random role parameter reference. And O(ns2.col.foo#role:main:foo_param_2=42) for one with a value."
+        "See O(ns2.col.foo#role:main:foo_param_1) for a random role parameter reference. And O(ns2.col.foo#role:main:foo_param_2=42) for one with a value.",
+        "Some text. HORIZONTALLINE More text."
        ],
        "type": "str"
       }
diff --git a/tests/functional/ansible-doc-cache-ns2.col.json b/tests/functional/ansible-doc-cache-ns2.col.json
index c401f966..2cb62826 100644
--- a/tests/functional/ansible-doc-cache-ns2.col.json
+++ b/tests/functional/ansible-doc-cache-ns2.col.json
@@ -1296,7 +1296,9 @@
      "description": [
       "Foo bar.",
       "See O(ns2.col.foo#role:main:foo_param_1) for a random role parameter reference. And O(ns2.col.foo#role:main:foo_param_2=42) for one with a value.",
-      "Reference using alias - O(ns2.col.foo_redirect#module:bar) and O(ns2.col.foo_redirect#module:baz)."
+      "Reference using alias - O(ns2.col.foo_redirect#module:bar) and O(ns2.col.foo_redirect#module:baz).",
+      "HORIZONTALLINE",
+      "Another line."
      ],
      "filename": "ansible_collections/ns2/col/plugins/modules/foo2.py",
      "has_action": false,
@@ -1305,7 +1307,8 @@
       "bar": {
        "description": [
         "Some bar.",
-        "See O(ns2.col.foo#role:main:foo_param_1) for a random role parameter reference. And O(ns2.col.foo#role:main:foo_param_2=42) for one with a value."
+        "See O(ns2.col.foo#role:main:foo_param_1) for a random role parameter reference. And O(ns2.col.foo#role:main:foo_param_2=42) for one with a value.",
+        "Some text. HORIZONTALLINE More text."
        ],
        "type": "str"
       }
diff --git a/tests/functional/baseline-default/collections/ns2/col/foo2_module.rst b/tests/functional/baseline-default/collections/ns2/col/foo2_module.rst
index 6d7d21e4..658e1284 100644
--- a/tests/functional/baseline-default/collections/ns2/col/foo2_module.rst
+++ b/tests/functional/baseline-default/collections/ns2/col/foo2_module.rst
@@ -50,6 +50,10 @@ Synopsis
 - Foo bar.
 - See :ansopt:`ns2.col.foo#role:main:foo\_param\_1` for a random role parameter reference. And :ansopt:`ns2.col.foo#role:main:foo\_param\_2=42` for one with a value.
 - Reference using alias - :ansopt:`ns2.col.foo\_redirect#module:bar` and :ansopt:`ns2.col.foo\_redirect#module:baz`.
+- .. raw:: html
+
+    <hr>
+- Another line.
 
 
 .. Aliases
@@ -110,6 +114,14 @@ Parameters
 
       See :ansopt:`ns2.col.foo#role:main:foo\_param\_1` for a random role parameter reference. And :ansopt:`ns2.col.foo#role:main:foo\_param\_2=42` for one with a value.
 
+      Some text.
+
+      .. raw:: html
+
+        <hr>
+
+      More text.
+
 
       .. raw:: html
 
diff --git a/tests/functional/baseline-no-breadcrumbs/collections/ns2/col/foo2_module.rst b/tests/functional/baseline-no-breadcrumbs/collections/ns2/col/foo2_module.rst
index 6d7d21e4..658e1284 100644
--- a/tests/functional/baseline-no-breadcrumbs/collections/ns2/col/foo2_module.rst
+++ b/tests/functional/baseline-no-breadcrumbs/collections/ns2/col/foo2_module.rst
@@ -50,6 +50,10 @@ Synopsis
 - Foo bar.
 - See :ansopt:`ns2.col.foo#role:main:foo\_param\_1` for a random role parameter reference. And :ansopt:`ns2.col.foo#role:main:foo\_param\_2=42` for one with a value.
 - Reference using alias - :ansopt:`ns2.col.foo\_redirect#module:bar` and :ansopt:`ns2.col.foo\_redirect#module:baz`.
+- .. raw:: html
+
+    <hr>
+- Another line.
 
 
 .. Aliases
@@ -110,6 +114,14 @@ Parameters
 
       See :ansopt:`ns2.col.foo#role:main:foo\_param\_1` for a random role parameter reference. And :ansopt:`ns2.col.foo#role:main:foo\_param\_2=42` for one with a value.
 
+      Some text.
+
+      .. raw:: html
+
+        <hr>
+
+      More text.
+
 
       .. raw:: html
 
diff --git a/tests/functional/baseline-no-indexes/collections/ns2/col/foo2_module.rst b/tests/functional/baseline-no-indexes/collections/ns2/col/foo2_module.rst
index 801e8fa3..f0cc5996 100644
--- a/tests/functional/baseline-no-indexes/collections/ns2/col/foo2_module.rst
+++ b/tests/functional/baseline-no-indexes/collections/ns2/col/foo2_module.rst
@@ -47,6 +47,10 @@ Synopsis
 - Foo bar.
 - See :ansopt:`ns2.col.foo#role:main:foo\_param\_1` for a random role parameter reference. And :ansopt:`ns2.col.foo#role:main:foo\_param\_2=42` for one with a value.
 - Reference using alias - :ansopt:`ns2.col.foo\_redirect#module:bar` and :ansopt:`ns2.col.foo\_redirect#module:baz`.
+- .. raw:: html
+
+    <hr>
+- Another line.
 
 
 .. Aliases
@@ -107,6 +111,14 @@ Parameters
 
       See :ansopt:`ns2.col.foo#role:main:foo\_param\_1` for a random role parameter reference. And :ansopt:`ns2.col.foo#role:main:foo\_param\_2=42` for one with a value.
 
+      Some text.
+
+      .. raw:: html
+
+        <hr>
+
+      More text.
+
 
       .. raw:: html
 
diff --git a/tests/functional/baseline-simplified-rst-squash-hierarchy/foo2_module.rst b/tests/functional/baseline-simplified-rst-squash-hierarchy/foo2_module.rst
index ff4e6414..9f7647a4 100644
--- a/tests/functional/baseline-simplified-rst-squash-hierarchy/foo2_module.rst
+++ b/tests/functional/baseline-simplified-rst-squash-hierarchy/foo2_module.rst
@@ -24,6 +24,8 @@ Synopsis
 - Foo bar.
 - See :literal:`foo\_param\_1` (of role `ns2.col.foo <foo_role.rst>`__, entrypoint main) for a random role parameter reference. And :literal:`foo\_param\_2=42` (of role `ns2.col.foo <foo_role.rst>`__, entrypoint main) for one with a value.
 - Reference using alias - :literal:`bar` (of module `ns2.col.foo\_redirect <foo_redirect_module.rst>`__) and :literal:`baz` (of module `ns2.col.foo\_redirect <foo_redirect_module.rst>`__).
+- ------------
+- Another line.
 
 
 Aliases: foo_3_redirect, foo_4_redirect, foo_5_redirect
@@ -58,6 +60,7 @@ Parameters
     <td valign="top">
       <p>Some bar.</p>
       <p>See <code class="ansible-option literal notranslate"><strong><a class="reference internal" href="../../ns2/col/foo_role.html#parameter-main--foo_param_1"><span class="std std-ref"><span class="pre">foo_param_1</span></span></a></strong></code> for a random role parameter reference. And <code class="ansible-option-value literal notranslate"><a class="reference internal" href="../../ns2/col/foo_role.html#parameter-main--foo_param_2"><span class="std std-ref"><span class="pre">foo_param_2=42</span></span></a></code> for one with a value.</p>
+      <p>Some text.<hr/>More text.</p>
     </td>
   </tr>
   </tbody>
diff --git a/tests/functional/baseline-simplified-rst/collections/ns2/col/foo2_module.rst b/tests/functional/baseline-simplified-rst/collections/ns2/col/foo2_module.rst
index 461f528e..0273dc6f 100644
--- a/tests/functional/baseline-simplified-rst/collections/ns2/col/foo2_module.rst
+++ b/tests/functional/baseline-simplified-rst/collections/ns2/col/foo2_module.rst
@@ -24,6 +24,8 @@ Synopsis
 - Foo bar.
 - See :literal:`foo\_param\_1` (of role `ns2.col.foo <foo_role.rst>`__, entrypoint main) for a random role parameter reference. And :literal:`foo\_param\_2=42` (of role `ns2.col.foo <foo_role.rst>`__, entrypoint main) for one with a value.
 - Reference using alias - :literal:`bar` (of module `ns2.col.foo\_redirect <foo_redirect_module.rst>`__) and :literal:`baz` (of module `ns2.col.foo\_redirect <foo_redirect_module.rst>`__).
+- ------------
+- Another line.
 
 
 Aliases: foo_3_redirect, foo_4_redirect, foo_5_redirect
@@ -58,6 +60,7 @@ Parameters
     <td valign="top">
       <p>Some bar.</p>
       <p>See <code class="ansible-option literal notranslate"><strong><a class="reference internal" href="../../ns2/col/foo_role.html#parameter-main--foo_param_1"><span class="std std-ref"><span class="pre">foo_param_1</span></span></a></strong></code> for a random role parameter reference. And <code class="ansible-option-value literal notranslate"><a class="reference internal" href="../../ns2/col/foo_role.html#parameter-main--foo_param_2"><span class="std std-ref"><span class="pre">foo_param_2=42</span></span></a></code> for one with a value.</p>
+      <p>Some text.<hr/>More text.</p>
     </td>
   </tr>
   </tbody>
diff --git a/tests/functional/baseline-squash-hierarchy/foo2_module.rst b/tests/functional/baseline-squash-hierarchy/foo2_module.rst
index 6d7d21e4..658e1284 100644
--- a/tests/functional/baseline-squash-hierarchy/foo2_module.rst
+++ b/tests/functional/baseline-squash-hierarchy/foo2_module.rst
@@ -50,6 +50,10 @@ Synopsis
 - Foo bar.
 - See :ansopt:`ns2.col.foo#role:main:foo\_param\_1` for a random role parameter reference. And :ansopt:`ns2.col.foo#role:main:foo\_param\_2=42` for one with a value.
 - Reference using alias - :ansopt:`ns2.col.foo\_redirect#module:bar` and :ansopt:`ns2.col.foo\_redirect#module:baz`.
+- .. raw:: html
+
+    <hr>
+- Another line.
 
 
 .. Aliases
@@ -110,6 +114,14 @@ Parameters
 
       See :ansopt:`ns2.col.foo#role:main:foo\_param\_1` for a random role parameter reference. And :ansopt:`ns2.col.foo#role:main:foo\_param\_2=42` for one with a value.
 
+      Some text.
+
+      .. raw:: html
+
+        <hr>
+
+      More text.
+
 
       .. raw:: html
 
diff --git a/tests/functional/baseline-use-html-blobs/collections/ns2/col/foo2_module.rst b/tests/functional/baseline-use-html-blobs/collections/ns2/col/foo2_module.rst
index b694aca5..e6e8869a 100644
--- a/tests/functional/baseline-use-html-blobs/collections/ns2/col/foo2_module.rst
+++ b/tests/functional/baseline-use-html-blobs/collections/ns2/col/foo2_module.rst
@@ -50,6 +50,10 @@ Synopsis
 - Foo bar.
 - See :ansopt:`ns2.col.foo#role:main:foo\_param\_1` for a random role parameter reference. And :ansopt:`ns2.col.foo#role:main:foo\_param\_2=42` for one with a value.
 - Reference using alias - :ansopt:`ns2.col.foo\_redirect#module:bar` and :ansopt:`ns2.col.foo\_redirect#module:baz`.
+- .. raw:: html
+
+    <hr>
+- Another line.
 
 
 .. Aliases
@@ -90,6 +94,7 @@ Parameters
     <td><div class="ansible-option-cell">
       <p>Some bar.</p>
       <p>See <code class="ansible-option literal notranslate"><strong><a class="reference internal" href="../../ns2/col/foo_role.html#parameter-main--foo_param_1"><span class="std std-ref"><span class="pre">foo_param_1</span></span></a></strong></code> for a random role parameter reference. And <code class="ansible-option-value literal notranslate"><a class="reference internal" href="../../ns2/col/foo_role.html#parameter-main--foo_param_2"><span class="std std-ref"><span class="pre">foo_param_2=42</span></span></a></code> for one with a value.</p>
+      <p>Some text.<hr/>More text.</p>
     </div></td>
   </tr>
   </tbody>
diff --git a/tests/functional/collections/ansible_collections/ns2/col/plugins/modules/foo2.py b/tests/functional/collections/ansible_collections/ns2/col/plugins/modules/foo2.py
index eea123a0..bed6c443 100644
--- a/tests/functional/collections/ansible_collections/ns2/col/plugins/modules/foo2.py
+++ b/tests/functional/collections/ansible_collections/ns2/col/plugins/modules/foo2.py
@@ -19,12 +19,15 @@
     - See O(ns2.col.foo#role:main:foo_param_1) for a random role parameter reference. And
       O(ns2.col.foo#role:main:foo_param_2=42) for one with a value.
     - Reference using alias - O(ns2.col.foo_redirect#module:bar) and O(ns2.col.foo_redirect#module:baz).
+    - HORIZONTALLINE
+    - Another line.
 options:
     bar:
         description:
           - Some bar.
           - See O(ns2.col.foo#role:main:foo_param_1) for a random role parameter reference. And
             O(ns2.col.foo#role:main:foo_param_2=42) for one with a value.
+          - Some text. HORIZONTALLINE More text.
         type: str
 
 attributes: