Dragons come in several sizes, and their power changes a bit depending on the color.
But for a rough estimate, I'd say wyrmlings at level 3, young at level 5, adult at level 11, and ancient at level 17.
HotDQ featured an encounter with a Dragon at 1st level. If the enemy dragon isn't breathing on the party, if they're just there to "tip the scales one way or the other" there shouldn't be a problem - another perk of Bounded Accuracy.I pictured a pretty cool encounter a while back, where two dragons are fighting. The PC's can get a Dragon friend by assisting either side. How soon do you all think a party of three could take on a Dragon, assuming they have a Dragon helping them fight it?
Remember that breath weapons have a large AoE. If the dragon has any intelligence at all (and it does), it's going to try to use its breath weapon on the enemy dragon and the party simultaneously.Let me clarify my strategy, as it probably has a fair bit of importance to the scenario. They will see the dragons tangling in the air, and crash down not far from the party. If they choose to take the fight, they will come in on a clearing with the two dragons, standing across from each other. Now they choose which one to help. If they deal any damage to the enemy Dragon, it is distracted long enough for the other to get aloft. Now it will spend the fight in the air, keeping the other one grounded. The enemy will focus on using its breath weapon on the other Dragon, and will only attack the party on rounds that they deal damage to it. Once it is below half health, it will consider the party an actual threat, and focus on fighting them, though the other will still be keeping it on the ground, and probably be using its breath weapon on the enemy.
EDIT: Also, I did plan on at least one of them being an adult Dragon. Maybe an adult vs. A young Dragon, who has invaded the Adult's territory.
Remember that breath weapons have a large AoE. If the dragon has any intelligence at all (and it does), it's going to try to use its breath weapon on the enemy dragon and the party simultaneously.
Adult black or white dragon breath weapon averages 54 damage, green averages 56, red averages 63, blue averages 66. White, red, and green are cones, making it especially easy for them to catch multiple characters. 60-ish damage stands a good chance of killing characters outright before they hit 5th or so (and is still going to drop all but the toughest characters in the 5-9 range).
On the other hand, the way you're describing the encounter, it's totally opt-in. That's the sort of thing you can justifiably do to PCs even at level one. If they charge into a battle with an adult dragon, that's on them.