Can you give us the neons by number from the left?
If it is neons 1+2 then you have a drain time out fault. That is to say it has not emptied in the allotted time, could be blocked or faulty pump, blockages in the outlet pipe or in rare cases a software error.
After resetting by removing electrity supply and restarting the machine sound like it is filling for about 3-4 mins and then stops with the two lights flashing.
The first thing the machine should do is drain, then fill to correct level. If it does not drain out when you reset it then you need to check the drain pump. Mains plug out, access from underneath. If it does drain perfectly then you may have a software recognition error. The electronics on Indesit machines are possibly the most unreliable of any manufacturer. 😥