It was launched in the early hours after a moped, believed to have been involved in an incident that day, was spotted.
A man had been threatened with a machete.
The 17 and 18 year old males were charged with a number of offences including possessing a bladed article in a public place.
The 18 year old was remanded in custody to appear for a plea and trial preparation hearing next month.
The 17-year-old, who pleaded guilty to the offences, was released on conditional bail to be electronically monitored and will be sentenced next month.
