The present invention discloses a hand brake mechanism (40) having a gravity based release hold mechanism (68) with a visual indicator (134) to prevent unwanted application of the railcar brakes and indicate such release hold condition. The release hold mechanism (68) comprises a gravity based member (130) pivotally linked to a release shaft (70) preventing reverse rotation of the release shaft (70) causing an unintended take-up of the chain (37). A detent retaining device (100) disposed within the railcar hand brake housing (14) further provides improved reliability of the operation. The gravity based member (130) incorporates an indicator portion (132) having a reflective coating to indicate such release hold position of the railcar hand brake (10).